If you’ve received a cash flow boost, you may be wondering if the amounts you’ve received affect your income or deductions this tax time. Here are the four essentials you need to know when lodging your tax return.
The COVID-19 pandemic has placed property owners and tenants in unforeseen circumstances. Many tenants are paying reduced rent or have ceased paying because their income has been adversely affected by COVID-19.
HAPPY FY21! Some changes help minimise tax. Others reduce exposure to an ATO tax audit. We have outlined these action points to assist you. Please carefully consider this information and contact us immediately if you have any questions we can answer or assist.
The ATO has developed some information to assist clients with residential rental property to understand their tax obligations during COVID-19. Check the frequently asked questions link for help with answers to common questions.