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Salary Package Rental Property Expenses to Avoid GST
A smart salary packaging strategy for employees who own residential rental properties involves optimizing their expenses by selectively packaging certain costs related to the property.
Taxpayers need to get their ‘rental right’.
The ATO reminds rental property owners to take care when lodging their tax returns this tax time. Taxpayers should make sure all rental income is included, including income from short-term rental arrangements, renting part of a home, and other rental-related income.
ATO turns up the heat on holiday home deductions.
An alert from the ATO has recently been issued warning about applying the correct proportions when claiming holiday home deductions.
Tax time focus on rental property income and deductions.
The ATO is focusing on four major concerns this tax season when it comes to rental properties.