Investment Property Tax Deductions

Preparing For The New Director ID Regime

By Warren Kruger / November 9, 2021 / 0 Comments

| | | As part of its Digital Business Plan, the Government announced the full implementation of the ‘Modernising Business Registers’ program. This included recently enacted legislation introducing the new director identification number (‘director ID’) regime. The director ID is a unique identifier that a director will need to apply for once and will keep […]

Read More

ATO Warns Property Investors About Common Tax Traps

By Warren Kruger / September 28, 2021 / 0 Comments

  | | | In 2019/20, over 1.8 million Australians owned rental properties and claimed $38 billion in deductions, so the ATO is reminding property investors to beware of common tax traps that can delay refunds or lead to an audit costing taxpayers time and money. The most common mistake rental property and holiday homeowners […]

Read More

New ATO Data-Matching Programs Involving Property

By Warren Kruger / June 22, 2021 / 0 Comments

  | | | The ATO has advised that it will engage in two new data matching programs dealing with property transactions, as outlined below: The ATO will acquire property management data from property management software providers for the 2018/19 through to 2022/23 financial years (relating to approximately 1.6 million individuals); and The ATO will […]

Read More

SMSF Related Party Rental Income Deferrals Due To COVID‑19

By Warren Kruger / February 12, 2021 / 0 Comments

  | | | The ATO has made a determination to ensure that trustees of SMSFs do not inadvertently breach the “in-house asset rules” where the fund allows a related party to defer the payment of rent under a lease agreement (on arm’s length terms) because of the financial impact of COVID‑19. Where the requirements […]

Read More

Deferrals of Interest Due to COVID-19

By Warren Kruger / November 16, 2020 / 0 Comments

  | | | Many lenders have recently allowed borrowers with investment property loans to defer repayments for a period of time. While repayments are being deferred, interest (and fees) will usually be added to the loan balance (i.e., the deferred interest will be ‘capitalised’). However, it is important to recognise in such situations that, […]

Read More

ATO On Property Investments

By Warren Kruger / April 28, 2020 / 0 Comments

  | | | The ATO has reminded taxpayers in a property business or thinking about investing in property that there are things they should know, such as: they need a clearance certificate from the supplier when buying property over $750,000; they may have to pay the GST on the sale of brand new residential […]

Read More

Need Help With

Your Tax Return?

Complete the form below for a fast response

Scroll to Top
Call Now Button