Maximise Your Savings: Your Complete Guide to Rental Property Tax Deductions
Wondering what rental property tax deductions you’re entitled to claim? Here are some tips you don’t want to miss out on.
Wondering what rental property tax deductions you’re entitled to claim? Here are some tips you don’t want to miss out on.
Preparing for tax season can feel overwhelming, but with the right knowledge and guidance, you can approach it confidently and efficiently. Here are our hot tips to maximize deductions, optimize your tax refund, and ensure compliance with the latest tax regulations.
During Covid the ATO temporarily suspended the collection of debts, including the use of credits and refunds to offset outstanding debts however the ATO has reactivated debts that were previously placed on hold.
The 2023-24 Budget was released by the Federal Government on Tuesday, 9 May 2023. Treasurer Jim Chalmers described the budget as a balancing act between relief, repair, and restraint, in his second budget announcement. While The Budget includes various tax measures, most have been previously announced and haven’t changed.
Did you know that owning an investment property could qualify you for valuable tax deductions? Things like interest on your mortgage, repairs and maintenance costs, water rates and property taxes may be deductible. Make sure you understand all the potential tax benefits available to you as a property investor—it could help boost your cash flow and maximize your tax refund.
Let’s clear up the differences between PAYG instalments and PAYG withholding.