Holidays rentals under ATO microscope
Holiday rentals under the microscope:
The ATO has advised that it is sending letters to taxpayers in approximately 500 postcodes across Australia, reminding them to only claim the deductions they are entitled to, for the periods a
holiday home is rented out, or is genuinely available for rent. They advise that, to avoid making mistakes on their tax return, property owners should:
- keep accurate records to ensure they declare the right amount of rental income;
- have evi