Debbie Grace 24/9/24 Debbie Grace 24/9/24

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.

Debbie Grace 13/8/24 Debbie Grace 13/8/24

ATO's Tips for Correctly Claiming Deductions for Rental Properties

Taxpayers who have work done on their rental property should consider the following factors in determining claims for expenses.

Debbie Grace 23/7/24 Debbie Grace 23/7/24

ATO's Three Focus Areas This Tax Time

The ATO will be taking a close look this 'tax time' at the following common errors made by taxpayers:

Work related expenses: Taxpayers using the 'revised fixed rate method' of calculating a working from home deduction must have comprehensive records to substantiate their claims, including records that show the actual number of hours they worked from home, and the additional running costs they incurred to claim a deduction.

Debbie Grace 5/10/23 Debbie Grace 5/10/23

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.