Key Tax Issues On Owning A Rental Property
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  Running Time: 8:08 Date: 27/09/2012 Confused about rental property tax deductions? Here's how to stay on-side with the taxman.. To claim or not to claim? That is the question when it comes to tax deductions on expenses concerning your rental property. But Michael Jones of Cummings Flavel McCormack comes to the rescue this month with a list of six key tax areas to consider. In the process, he throws clarity on what often seems like a fine line between what's acceptable, or not, in the eyes of the ATO. Here's what to think about: the nature of the property ownership, construction costs, initial repairs and improvements, interest expenses, legal expenses and travel expenses. Michael Jones spells out the rules in each case with a reminder that it's important to be sensible, reasonable and follow the rules to stay out of trouble. Topics: Accounting & Tax, Financial Management |
 Michael Jones, Cummings Flavel McCormack |