Rental expenses claim. Keeping the ATO happy
Are you claiming rental expenses that might relate to the private use of your rental property? The ATO has indicated that they intend to review taxpayers who have rental properties. Who’s on the title is important! When declaring the property. The ATO will be looking for the persons whose name is on the title to declare the net rental income or loss. This also goes for the eventual gain when sold. Many think that if they share in the loan liability that this is sufficient. The truth is it is entirely based on ownership and title details. Beware of the [...] READ MORE
