Top tips for landlords under the ATO's microscope
With June 30 fast approaching, our experts provide their insights on how property investors can maximise their tax returns and avoid costly lodgement mistakes.
The complexities of property investors' tax returns means mistakes can be made easily. Photo: Shutterstock (Image source: Shutterstock.com)
Australian landlords’ tax returns are likely to be closely scrutinised in 2020, as the tax office tries to close an $8.7 billion gap between the tax it expects individuals to pay and what is actually paid.Â
The ATO recently said it believed mistakes in rental property claims made up the second-biggest component of that tax shortfall, following work-related expense claims.
Aus Property Professionals director Lloyd Edge said the ATO’s focus on pr…
