ATO flags top problem areas for rental property deductions
Investors incorrectly apportioning interest from investment loans and confusion between repairs and improvements are some of the main issues, says the ATO.
TAX & LEGAL • Wed, 22 May 2024
Access to super won’t solve housing affordability, warns ASFA
Allowing access to super for housing will only benefit a minority of members with high super balances, ASFA analysis shows.
FINANCE • Tue, 26 Mar 2024
Crucial deadline looms for foreign owners of Victorian property
Foreign purchasers of real estate in Victoria may need to make important notifications by mid-January where their property is vacant, cautions HLB Mann Judd.
INVESTOR STRATEGY • Mon, 08 Jan 2024
Bill to lower downsizer age passes both houses
The bill to reduce the eligibility age for downsizer contributions down to age 55 has now passed the Senate and awaits royal assent.
TAX & LEGAL • Mon, 28 Nov 2022
ATO undertaking ‘extensive’ property deducation examinations
With the ATO scaling up its compliance and undertaking detailed reviews including questionaries, SMSFs with compliance issues should take action now, an SMSF lawyer warns
TAX & LEGAL • Mon, 21 Nov 2022
Take action on valuations now to avoid delays, says ATO
The ATO is urging SMSFs to get their asset valuations done before their annual audit to help avoid delays and late lodgments.
TAX & LEGAL • Fri, 30 Sep 2022
SMSFs warned on risk of ‘mortgage prison’
With further interest rate rises expected over coming months, some SMSFs may be left trapped in legacy products paying higher interest rates, a prominent SMSF lender has ...
FINANCE • Thu, 15 Sep 2022
ATO issues warning to late lodging SMSFs
The ATO has reminded SMSFs that their 2020-21 SMSF annual return should now be lodged unless they have received an extension.
TAX & LEGAL • Thu, 09 Jun 2022
Property valuations put pressure on SMSF audit delays
The requirement to include comparable sales data for kerbside valuations for properties is seeing issues and hold-ups with SMSF audits, particularly with some real estate ...
TAX & LEGAL • Mon, 10 Jan 2022
