If you own a holiday home and rent it out for any period then you must declare the rental income in your income tax return and can only claim tax deductions for expenses based on the proportion of the year the property was available to be rented out.
Please see the link to the ATO website for further information:
Please contact Andrew Marshall or Janine Orpwood at Langley McKimmie Chartered Accountants on (03) 5427 8100 to discuss further.
We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.
We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.
No comments:
Post a Comment