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Can I Claim Travel Expenses For My Rental Property?
Travel expenses relating to inspecting, maintaining, or collecting rent for a residential rental property cannot be claimed as deductions by investors. The travel expenditure is also not recognised in the cost base of the property for CGT purposes.
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Time Is Up For Dodgy Accountants
We absolutely love that the ATO has singled out the presence of about 500 dodgy tax agents in the Aussie tax community. The ATO assistant commissioner, Adam Kendrick, has recently spoke about these dodgy agents eating into market share of good quality, well trained tax agents…
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Online Accommodation Rentals To Be Targeted By ATO
Australia has seen a huge surge in property owners renting their house or rooms out via the likes of the hugely popular Airbnb app. As a result, the ATO are now going to gain access to data match these online platforms.
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Rental Bond Data Matching By The ATO
The ATO is expanding its data matching program to include rental property bond data dating back to 20 September 1985 (the introduction of the CGT regime).
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Clothing Deductions Hung Out To Dry
The ATO says that clothing claims are up nearly 20 per cent over the last five years with people either making mistakes or deliberately over-claiming. Common mistakes include people claiming ineligible clothing, claiming for something without having spent the money, and not being able to explain the basis for how the claim was calculated.
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2018 Tax Checklists
We have taken the time to prepare comprehensive Tax Checklists for 2018, designed to guide you in providing all the correct and relevant information to maximise your tax return.
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What Will The ATO Audit This Year?
It can often be difficult to know where exactly the tax office are going to be focusing their audits. As it is the start of a new financial year, I thought I would provide some insight into where the ATO will be pointing their guns in 2018/19.
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ATO Server Crash
We may be a little behind on our service at this critical time due to an ATO computer crash that was triggered by the collapse of part of its storage solution systems, which were being handled by Hewlett Packard Enterprise.
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