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  • Tax Time Toolkit 2019 – Rental property owners

    Welcome to the Rental property owners toolkit for 2019

    We know from our community survey work that many Australians aren’t confident that they have the knowledge and information to accurately prepare and lodge their tax return. To help with this, we’ve created a series of toolkits with practical and tailored information. Each toolkit is designed to help in areas where we know taxpayers are at risk of making mistakes.

    We recently reviewed individual tax returns to determine the difference between what should have been paid in tax and what was paid. We found that nine out of 10 individuals with a rental property were making mistakes.

    Our new Rental property owners toolkit is designed to help rental property owners and their agents get the information they need to lodge correctly.

    The toolkit focuses on areas where we commonly see mistakes being made, including:

    • loan interest
    • borrowing expenses incurred when taking out a rental property loan
    • repairs and improvements.

    We encourage you to share this information within your networks.

    We are committed to helping rental property owners lodge accurately. Thank you for your support and for working with us to help the community get their tax right this Tax Time.

    Sally Druhan, Assistant Commissioner, Individuals and Intermediaries, Australian Taxation Office

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      Last modified: 12 Jul 2019QC 59553