Reduce the risk of investment fraud

Unfortunately some people try to gain financial advantages from others good nature and may inappropriately seek other’s financial information.

Other than having a healthy sense of skepticism we suggest if something is too good to be true then it probably is just that.

ATO Focus on Lodgement Dates

The Tax Office, likely through a desire to increase government cash flow, is putting greater pressure on Tax Agents to lodge client returns by their due dates.

Landlords, the ATO and rental deductions

One in seven taxpayers in Australia is a property investor. Each year residential landlords claim a total of around $5 billion in rental losses. Accordingly one can understand the Australian Tax Office’s (ATO) close scrutiny of the deductions claimed by landlords. But a recent case before the Administrative Appeals Tribunal (AAT) demonstrates how far the ATO will go to test the boundaries of what is, and isn’t, tax deductible.

The case involved a taxpayer who owned a property in country NSW. The owner stated that the property was available for rent but she had been unable to find tenants. As a result, the property did not derive any income for a number of years.