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ATO – What attracts our audit attention

11 Feb 2018

To help you taxpayers get things right, you should consider the behaviours, characteristics and tax issues that may attract the audit attention of the ATO.  The Australian Taxation Office have published this information below as part of their commitment to transparency in working with privately owned and wealthy groups. Broadly, the following behaviours and characteristics may attract the ATO’s attention: tax […]
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Rental properties – travel expenses

13 Dec 2017

From 1 July 2017, travel expenses relating to a residential investment property are not deductible. A residential premise (property) is land or a building that is: occupied as a residence or for residential accommodation intended to be occupied, and is capable of being occupied, as a residence or for residential accommodation. Under the new legislation, you […]
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Rental properties – Borrowing expenses

05 Dec 2017

You can claim a deduction for borrowing expenses associated with purchasing your property, such as loan establishment fees, title search fees, and costs of preparing and filing mortgage documents.  Please note that interest on the loan is not a borrowing expense and can be claimed immediately. If your total borrowing expenses are more than $100, […]
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Rental property depreciation

03 Dec 2017

What is depreciation? You can claim a deduction for the decline in value of certain items, known as depreciation, that you acquired as part of the purchase of your property or that you subsequently purchased for your property. A depreciating asset is an asset that has a limited effective life and can reasonably be expected […]
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Griffin & Associates

79 Denham St, Townsville City QLD 4810

Phone 07 4772 6588

Chartered Accountants