The Australian Taxation Office will crack down on landlords’ dodgy deductions, after a review found nearly nine out of 10 landlords made mistakes on their annual returns and incorrectly claimed expenses.
People claiming tax deductions for working from home will also come under the microscope, as will people who earn income by putting their homes on short-term rental websites like Airbnb or Stayz, or who run a business from home, but then dodge paying capital gains tax when they sell.
“We encourage rental property owners and their registered tax agents to take extra care this tax time and review their records before lodging their return,” Loh said. “Don’t fall into the trap of thinking we won’t notice if you sell an asset for a gain and don’t declare it.”
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