Find a QPIA® adviser Join PIPA

Home › Newsroom › Press coverage

Landlords warned over ‘double dipping’ on deductibles and other tax errors that could cost government $1.2 billion

Press coverage 11 May 2024 Summary of published coverage
Landlords warned over ‘double dipping’ on deductibles and other tax errors that could cost government $1.2 billion

The Australian Taxation Office named rental property owners among its compliance focus areas, saying nine in ten landlords made mistakes on their returns and estimating the cost to revenue at $1.2 billion. Common errors included overclaimed interest deductions, missing records, and capital improvements claimed immediately as repairs rather than written off at 2.5 per cent over 40 years.

Reported by

Geraden Cann, ABC News, 11 May 2024

Read the original article

PIPA has summarised this coverage for members. Copyright in the original article remains with its publisher.

From the association

Our digital PIPA Adviser Magazine

PIPA runs its own annual survey of property investors and publishes the results in full. It is the evidence behind most of what you have just read.

Tell us where to send it and you will have the Investor Sentiment Survey now, and the next one when it is published. Unsubscribe in one click.

Send me the Investor Sentiment Survey

More from the newsroom

Browse the full newsroom

Raise the standard, or find someone who already has.

Join PIPA to be held to a professional standard your clients can verify. Or tell the PIPA team what you need and be matched with an accredited adviser.

Join PIPA Find a QPIA® adviser