Category Archives: Tax Returns

Australian Tax Office Reviews of Income Tax Returns

Review of your Income Tax Return by the ATO and Record Keeping We have recently had a few requests for clarification on the length of time the ATO has to review your Income Tax Return and also the length of time you need to retain supporting documentation that has been used to compile your Income Tax Return. After a notice

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Interest Deductibility: Land

Are interest payments on land deductible? It is not a very well-known fact but the interest paid on a loan used to purchase land acquired for the purposes of building a rental property is deductible. The period that the interest remains deductible before building the rental property is decided by the ATO based on the

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Questions about Deductions

Further to our article about Frequently asked Questions regarding Income I thought I would offer some explanation regarding Work Related Deductions. Claiming deductions is a way of decreasing your tax bill.  Always carefully review your spending and employment requirements to determine if you are able to claim any of the following: Also.. Remember the 3

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Questions about Income

Since it’s time to get your 2016 income tax return lodged I thought I would take the opportunity to offer some response to questions that I get frequently asked by our clients about income tax. Please review the following list and contact Personalised Tax Services if you would like some further information. Why does my second

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