ATO to scrutinise short-term rentals this tax time
Investors with properties on short-term rental sites who didn’t see any income will be closely examined by the ATO this financial year, ac...
Property sale price
The amount specified in the purchase sale agreement of the real property as the purchase price.
Current taxable income
Amount of income an individual used to calculate income tax due, gross income minus any deductions or exemptions allowed.
Purchase price of the property
The price an investor pays for the investment.
Capital gains/loss
Any profit or loss made from the sale of the property or of an investment.
Tax payable under new regime (marginal tax rate x half of capital gain)
The amount of capital gains tax payable based on marginal tax rate multiplied by half of the capital gain/loss.
Investors with properties on short-term rental sites who didn’t see any income will be closely examined by the ATO this financial year, ac...
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Analysis has found Australian property investors are, potentially, not claiming a collective of nearly $3 billion in tax deductions. ...
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