COVID-19 tax implications for rental property owners outlined
Recognising that COVID-19 and recent natural disasters have greatly impacted residential property owners, placing them in unforeseen circumstances, the ATO has identified deduction hotspots ahead of tax time 2020.
Given that over 2.2 million Aussies claimed just under $50 billion in rental deductions in 2017–2019, the Tax Office has flagged potential misperceptions, detailing deductions that are and are not available under the law.
Read more at MyBusiness.
