Rental properties continue to be a particular focus area for the Australian Taxation Office (ATO) and it is important that practitioners understand the various tax issues that arise in relation to rental properties.
This session will primarily focus on residential rental properties, however, some commentary will also be provided in relation to commercial properties and holiday homes.
This session will cover:
Income and expenses commonly associated with rental properties;
Distinguishing between repairs, initial repairs and capital improvements
Issues associated with depreciating assets, buildings and other capital works;
Correct GST treatment of income and expenses;
The relevant owners of rental properties;
Capital gains tax (CGT) issues, including what items are separate CGT assets, the main residence exemption and the application of the small business CGT concessions;
Ownership of overseas rental property
Ownership of rental properties by SMSFs.
Benefits of attending
The session will assist participants identify the issues with respect to the points listed in the session outline.
All delegates will receive a copy of the presentation and any handouts.
Who should attend?
Accountant; Junior/senior accountant; advisor, adviser, analyst, consultant, manager, director, account manager, account director, partner, principal
Earn 1.5 CPE hours
Senior Tax Trainer
The Institute of Chartered Accountants in Australia