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Expenses may be deductible for periods when the property is not rented out, providing the property is genuinely available for rent – that is:


• The property is advertised, giving it broad exposure to potential tenants

• Considering all the circumstances, tenants are reasonably likely to rent the property.


The absence of these factors generally indicates the owner doesn’t have a genuine intention to make income from the property. Factors that may indicate a property is not genuinely available for rent include:


• it is advertised in ways that limit its exposure to potential tenants – for example, the property is only advertised:


o at your workplace

o by word of mouth outside annual holiday periods when the likelihood of it being rented out is very low


• the location, condition of the property, or accessibility of the property, mean it is unlikely tenants will seek to rent it

• you place unreasonable or stringent conditions on renting out the property that restrict the likelihood of the property being rented out, such as:


o setting the rent above the rate of comparable properties in the area

o Placing a combination of restrictions on renting out the property – such as requiring prospective tenants to provide references for short holiday stays and having conditions like “no children” and “no pets”.


• you refuse to rent out the property to interested people without adequate reasons.


Note – Properties that privately rented out by landlords may face difficulties in proving their property was genuinely available for rent since they are not advertising their property through a real estate agent.


However, it may not always be the case if landlord can demonstrate their genuine intent to rent by showing enough evidence that proves they have advertised their property on enough channels to solicit tenancy inquiries.


Contact Expert Tax on 1300 8 MY TAX (1300 869 829) or 0449 952 855 for further assistance on rental property related tax queries.


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Taxable payments annual report (TPAR)


Does your business operate in cleaning, courier or building industry? As of 1 July 2018, you’ll need to record payments to cleaning or courier contractors or subcontractors, and lodge a Taxable payments annual report (TPAR) each year with ATO on an annual basis.


You may need to lodge a Taxable payments annual report (TPAR) by 28 August each year if you are a business providing:


    • Building and construction services – Compliance requirement already in place. Reports are due by 28th August each year.
    • Cleaning services – for contractor payments from 1 July 2018 (first report due by 28 August 2019)
    • Courier services – for contractor payments from 1 July 2018 (first report due by 28 August 2019)


The TPAR tells ATO about payments that are made to contractors for providing services.


Contractors can include subcontractors, consultants and independent contractors. They can be operating as sole traders (individuals), companies, partnerships or trusts.


The details you need to report about each contractor are generally found on the invoice you should have received from them. This includes:


  • their Australian business number (ABN), where known
  • their name and address
  • Gross amount you paid to them for the financial year (including any GST).


ATO will use this information to identify contractors who haven’t met their tax obligations.


For further assistance contact Expert Tax on 0449 952 855 or 1300 8 MY TAX (1300 869 829)


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  • I plan to use an agent this year so the deadline doesn’t matter: If you used a registered agent, you need to be on their books by 31 October, regardless of the deadline. If you register with an agent after the 31 October deadline, your lodgement will still be considered overdue and penalties may apply.


  • I didn’t earn any money through my business this year, so I don’t need to declare: Even if you had a nil or negative income from your business, you’re still required to declare this to the ATO.


  • I’m on Centrelink benefits so I don’t have to lodge a return: If you’re a Centrelink beneficiary, you are still required to lodge tax return for the purpose of calculating your Centrelink benefits.


  • I earned less than the tax-free threshold of $18,200, therefore I don’t need to lodge a tax return: A lot of taxpayers get confused between paying no tax and actually doing their tax return. If you earn under $18,200 and didn’t pay any tax during the year, you can still declare your income to the ATO. This is done through a non-lodgement advice form and lets ATO know that you don’t need to lodge a return. If you earned under $18,200 and you DID pay tax (even if it was only $1), then you’re required to lodge a return even if you don’t want your excess tax payment refunded.


  • I’m retired and not required to lodge anymore: Regardless of your age and working status, you have to lodge if you have received taxable income over the threshold.


Contact Expert Tax on 0404 667 909 or 1300 8 MY TAX (1300 869 829) for further assistance.


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