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ATO Rental Property Targets Webinar

Recorded 8 August 2024. Helping landlords stay under the ATO’s radar

The issues on the ATO’s hit-list
Red flags and common problem areas
Specific issues for short-term rental arrangements

Recorded 8 August 2024

The ATO says that a “majority” of rental property owners are making errors in their tax returns, despite 86% using a registered tax agent. Incorrect interest expense claims by rental property owners are estimated to account for an estimated $500 million tax gap.

The pressure is on clients who own rental property and their accountants. Data matching and the new short-stay sharing economy platform reporting regime, mean that it is easier than ever for the ATO to identify mistakes.

Changes to the tax rules dealing with rental properties over the last few years have also increased the level of risk as many clients (and some practitioners) are unaware of how easy it is to fall foul of the rules.

The ATO Rental Property Targets Webinar looks at the key issues the ATO is focusing on when reviewing tax returns for rental property owners, including the treatment of interest expenses, repairs and depreciation deductions. We also look at some of the concerns raised in connection with short-term rental arrangements and how to determine whether a property is genuinely available for rent.

Total 1.5 CPD Hours

What we cover

How to determine whether interest expenses are deductible, including arrangements involving redraw and offset facilities
Determining whether repair costs are deductible or are capital in nature
Identifying situations where the significant restrictions on depreciation deductions can be triggered
Working out the tax treatment for short-term rental properties and holiday homes that are used to produce income
Dealing with jointly owned properties
Getting the treatment right when it comes to land tax and stamp duty costs
Step-by-step guide to ensuring that the CGT rules are applied correctly on sale of the property

Rae Ni Corraidh

Senior Trainer (Tax), TaxBanter

Rae is a highly experienced tax advisor and trainer, dedicated to helping practitioners navigate complex tax rules and apply them to real-world scenarios. With over 25 years of experience across the tax profession, including senior roles in both Big 4 and mid-tier firms in Australia and internationally, Rae brings deep technical knowledge and practical insights to every session.

She has spent a significant part of her career in tax training and education with our partners at Knowledge Shop, working closely with practitioners to deliver clear, actionable guidance. Rae understands the day-to-day challenges faced by tax professionals and focuses on equipping them with the practical tools and knowledge needed to support their clients with confidence.

Passionate about demystifying tax, Rae excels at translating technical concepts into accessible, usable information, ensuring her participants leave each session better prepared to tackle even the most complex tax issues.