rental properties

Rental Properties – Traps and Pitfalls

The Australian Taxation Office (ATO) has found that nine out of ten residential rental property investors audited have made errors in their tax returns. Here are some common tax traps and pitfalls to be aware of: Apportionment of Rental Income and Deductions If a rental property is jointly owned, the income and deductions must be […]

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Owners can claim interest expenses on rental properties

Claiming Interest Expenses On Rental Properties

Deducting interest expenses on rental properties Interest is a common deduction claimed by taxpayers. Generally, interest is seen as being inherently deductible where it is incurred in gaining or producing assessable income. An established factor from court cases is that the deductibility of interest depends on the purpose of and use of borrowing the principal.

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