Attention property investors, the tax man is after you. Here’s what he’s looking for, with Ken Raiss
May 18, 2022
If you’re a property investor, today’s episode is a must.
Why?
Because the taxman is after you – you and all property investors.
It’s not long until tax time and the Australian Taxation Office is already preparing its so-called “hit list” of priority areas due for a crackdown in the 2021-22 financial year.
Property owners, crypto investors, and those working in the gig economy will be front of mind for the tax office plus a number of other areas, so today Ken Raiss and I are going to look at this hit list in the hope that you’ll be able to avoid a nasty surprise at tax time.
What the taxman is looking for?
- Repairs vs. maintenance
- Interest expenses
- Property divestments
- Personal expenses including holiday homes
- Renting part of your home
- Double claims for interest expenses
- Incorrect Apportioning of rental income
- Weak claims for new rental properties
- Substantiation of expenses - receipts
Links and Resources:
Ken Raiss- Director Metropole Wealth Advisory
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Shownotes plus more here: Attention property investors, the tax man is after you. Here’s what he’s looking for, with Ken Raiss