2018 ATO Tax Tips Series – Tip 3) Rental Properties-Travel Expenses

2018 ATO Tax Tips Series provided by Platinum Lending Group

Tip 3) Rental Properties – Travel Expenses

Do you own a rental property? You may not be aware that last year’s law changes mean you can no longer claim any deductions for the cost of travel to and from your residential rental property. (unless you are carrying on a business). The change applies to all expenses incurred from  1 July 2017 onwards and affects your 2017–18 and future income tax returns. Refer to your registered Tax Agent or the ATO website for more information. https://www.ato.gov.au/General/Property/In-detail/Rental-properties/Rental-properties—claiming-travel-expenses-deductions/

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