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5 May 2011
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Media release 2011/27
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The ATO is set to begin a mail out to more than 200,000 people who own a rental property that may have been affected by recent natural disasters.
The mail out coincides with a new fact sheet published on the ATO website to alert people to the expenses they may be able to claim that may reduce their taxable income.
"The ATO understands that many people who own a rental property in those recently affected areas may be in a difficult position and we want to help and support them as much as possible," said Tax Commissioner Michael D'Ascenzo.
"This can be a confusing and distressing time for rental property owners and we hope that mailing them directly and publishing useful information on our website will give them a better understanding of their entitlements and obligations.
"People need important information such as what expenses are considered to be a repair, what are improvements, what happens when they receive an insurance payment, effect on depreciable assets when they are destroyed and much more."
"Many of these people will find themselves not knowing what they can or cannot claim," said Mr D'Ascenzo.
"Our role is to put them on the right track when it comes to their tax affairs during this period and provide any assistance we can."
For more information about rental property expenses which can be claimed people can visit www.ato.gov.au/rental or phone 13 28 61.
For further enquiries from members of the media: (02) 6216 1901 or 0401 147 127.
Last Modified: Thursday, 5 May 2011