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Recorded Webinars

Recorded Webinar: Rental Properties and the ATO: Digging Deeper into Deductions and Compliance

The ATO has put rental properties on notice — with audit data revealing that a majority of tax returns for rental properties contain errors, even when lodged by tax agents. So where are the mistakes happening, and what does the ATO expect? This session explores the key risk areas
PRESENTED BY Abhishek Shekhawat Senior Associate - Norton Rose Fulbright , Sydney

Date/Time

About the Webinar

The ATO has put rental properties on notice — with audit data revealing that a majority of tax returns for rental properties contain errors, even when lodged by tax agents. So where are the mistakes happening, and what does the ATO expect? This session explores the key risk areas in rental property taxation and the deeper due diligence often required to get it right. Topics include:

  • What are the ATO's concerns with the tax treatment of rental property transactions?
  • When a dissection of body corporate levies may be required for special levies involving capital expenditure
  • Interest and rental properties:
    • the process for claiming interest for line of credit or redraw facility loans that intermingle with private expenditure (TR 2000/2)
    • tax trap with placing borrowed funds for later rental property use into an offset or other account with a credit balance (Domjan v FC of T [2004] AATA 815) 
    • why you may have to review loan statements numerous years prior when taking on a new rental property client
  • The capital versus revenue distinction issues that arise for rental property repairs, depreciable items and capital improvements
  • Dividing income and expenses when there are co-owners (TR 93/32)
  • How to claim undeducted capital works deductions for a rental property renovation
  • Tax issues to consider when dealing with short-term letting of properties
  • Practical examples

Presented By

Abhishek Shekhawat
Senior Associate, Norton Rose Fulbright Sydney, NSW

Abhishek is a taxation lawyer based in Sydney who advises corporate clients and private groups across a range of Federal income taxes, State taxes and indirect taxes. With significant experience working with tax administrators in prior roles, Abhishek excels at helping clients navigate both the practical and procedural aspects of their taxation issues.

Abhishek’s prior roles at the ATO and Tax Institute has provided him with detailed insights into how tax legislation is drafted, interpreted and enforced. With increased compliance and expectations on all taxpayers, Abhishek is committed to helping clients understand their rights under the law and meet their tax obligations.

Who Should Attend?

This webinar is suitable for accountants advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD hour. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Jason Hooker on (03) 8601 7709 or email: [email protected]

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