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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.
Stay off the ATO’s radar and lodge your TPAR on time.
Taxpayers who operate in certain industries and that make payments to contractors may need to report these payments in a TPAR.