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Posts tagged "deductions"

Property investors in the crosshairs as ATO clamps down on deductions

March 14th, 2019 Posted by Financial Management 0 thoughts on “Property investors in the crosshairs as ATO clamps down on deductions”

Reported in Domain 14th Mar 2019, almost nine in 10 property investors who claim tax deductions on their rentals are making errors, new research shows. Investors are in the crosshairs of the Australian Taxation Office, which is turning its focus to the incorrect property claims made at tax time.

Tax commissioner Chris Jordan said that the ATO had been making random inquiries about tax returns. “Our auditors have now completed over 300 audits on rental property claims and found errors in almost nine out of 10 returns reviewed,” he said. “We’re seeing incorrect interest claims for the entire investment loan where it has been refinanced for private purposes, incorrect classification of capital works as repairs and maintenance, and taxpayers not apportioning deductions for holiday homes when they are not genuinely available for rent.”

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It’s tax time again. Make it easier for yourself.

July 11th, 2017 Posted by Business Management, Financial Management, Time Management 0 thoughts on “It’s tax time again. Make it easier for yourself.”

Do you search for your bills and receipts in a shoebox? Make tax time easier by using Gobbill to pay and store all your bills.

Watch our video to see how simple it is in Gobbill.

When calculating your tax deductions, login to Gobbill and simply navigate to the “All Bills” screen from the main menu.

Then click the “Export to CSV” button. A list of all your bills details and payment history is there for your tax deduction claims.