Owning an investment property can be tax-effective, but it is also an area the ATO watches closely. Common mistakes often involve interest deductions, private use and incomplete income reporting. Understanding these issues can help property investors stay compliant and avoid costly mistakes.
The CGT discount is back in the headlines ahead of the May Budget – and while nothing has been confirmed yet, even a small tweak could change how much tax you pay when you sell property, shares or other investments. Here’s what’s being discussed, and the practical flow-on effects to be aware of.
Are you still safe claiming full deductions on your holiday home – or could the ATO see it as a private weekender in disguise? New draft guidance puts the spotlight on how you actually use the property in peak periods. This article unpacks what’s changing, who is most at risk, and what patterns of use the ATO is likely to scrutinise.
The ATO is signalling a tougher stance on holiday home deductions, with new draft guidance targeting properties kept mainly for personal use. Owners who block out peak periods for private holidays could soon lose key tax benefits – here’s what you need to know.
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