rental

Last week, the ATO reminded property investors to be aware of “common tax traps” that can lead to an audit or a delay in the processing of refunds (see Daily Tax Update 2 August 2021). Such “traps” included the failure to declare capital gains from the sale of an investment property. Perhaps, the ATO should

  An article in the latest The Taxpayer1 magazine discussed the relatively recent change to the rules regarding the ability of investment property owners to claim travel expenses related to their residential rental holdings. These claims are no longer allowed (see here for some ATO information). But the wording of the ATO guidance, which was

The government has made good on a measure announced in its 2017 Federal Budget, and now limits plant and equipment depreciation deductions to outlays actually incurred by investors. In essence, unless a taxpayer as the investment property buyer have physically purchased the assets to be depreciated, they can no longer do so. In other words,