Monthly Archives: September 2021

Tax Time 2021: Rental Property Pitfalls

This tax time, the ATO will again be closely monitoring claims in relation to rental properties. As with previous years, it will be on the look out for rental property owners that do not declare all their income and capital gains from selling property. Other areas of concern include claims for interest charges on personal […]

Tax Consequences of Rent Deferral or Waiver

With large swathes of the population currently in lockdown, many businesses may be using this downtime to finalise their 2020-21 tax returns in order to get a refund to assist with their business cash flow. Due to the effects of COVID-19 in the past financial year, one of the big issues vexing both tenants and […]

Div 293 Concessional Contributions Assessments

Individuals earning more than $250,000 may be subject to Div 293 tax on their concessional super contributions. This is an additional 15% tax which means the effective contributions tax on concessional contributions for those high income earners doubles to 30%. Due to a system issue, the ATO has only recently started issuing Div 293 assessments […]

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