Attention property investors, the tax man is after you. Here’s what he’s looking for, with Ken Raiss

If you’re a property investor, today’s episode is a must. 

Why?

Because the taxman is after you – you and all property investors. 

It’s not long until tax time and the Australian Taxation Office is already preparing its so-called “hit list” of priority areas due for a crackdown in the 2021-22 financial year.

Property owners, crypto investors, and those working in the gig economy will be front of mind for the tax office plus a number of other areas, so today Ken Raiss and I are going to look at this hit list in the hope that you’ll be able to avoid a nasty surprise at tax time.

What the taxman is looking for?

1. Repairs vs. maintenance
2. Interest expenses
3. Property divestments
4. Personal expenses including holiday homes
5. Renting part of your home
6. Double claims for interest expenses
7. Incorrect Apportioning of rental income
8. Weak claims for new rental properties
9. Substantiation of expenses - receipts

Links and Resources:

Michael Yardney

Ken Raiss- Director Metropole Wealth Advisory

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Shownotes plus more here: Attention property investors, the tax man is after you. Here’s what he’s looking for, with Ken Raiss