Not that any of us honest, law abiding forum crawlers would ever dream of claiming llegitimate expences but just in case you know someone who does…
http://www.smh.com.au/news/national/taxman-to-blitz-property-investors/2006/10/20/1160851142117.html
Art.
‘Great spirits have always encountered violent opposition from mediocre minds.’ – Albert Einstein
Comes out every year. I reckon it is just a reminder to everyone as they do their tax.
Nothing to worry about if you are above board.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I think the biggest issue they should look at is the bogus depreciation schedules produced by developers flooging their products.
Have seen units bought for $150,000 from a developer with $133,000 in depreciable costs and capital allowances.
Hmmmm $17,000 to cover land, profit and selling fees.
Don’t think so.
Mentioned to a ATO guy who admitted they were aware of it.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
