Another interesting read below on property investments.  This year we are seeing many changes being implemented with regards to claims for rental property investments.

Examples include the removal of travel expenses to inspect properties or undertake repairs, and changes to depreciation claims.

The ATO is really looking very closely at property depreciation claims, and the changes are quite complicated, so it’s worthwhile getting some professional help if you might be affected.

Other common areas the ATO will be monitoring by undertaking testing on comparative data it received are as follows;

• Excessive claims for interest expenses, such as trying to claim interest on the family home as well as investments;
• Incorrect claims for new property purchases, and;
• Holiday homes that were not genuinely available to rent and were mainly used by their owners, family and friends.

For up to date advice and information, please contact Peter directly on 0407 841 643.  We specialise in investment properties and operate across Australia in all states.  For our Victorian clients we provide a face to face home mobile service and for all of our interstate clients we operate remotely with the use of Facetime, Skype and conference calls at no additional cost.

I look forward to hearing from you.

Read more about it on here