Another financial year has passed us by and if you are a property investor, you face greater scrutiny by the Australian Tax Office (ATO), according to Your Investment Property Magazine.
The tax authority has singled out rental property owners, and claims “the group has made large number of mistakes, errors, and false claims.”
The ATO is focusing on taxpayers who claim deductions for holiday homes that are not actually available for rent or only available to friends and family,” Assistant Commissioner Kath Anderson said late last March.
Your Investment Property Magazine has outlined in their article, three key areas for property investors to consider this tax time.
To get the insight into those key areas, click here.