Tip #37 – ATO Property Compliance Monitoring

The Australian Taxation Office (ATO) is ramping up client compliance by monitoring property investors who have purchased an investment property this year.

In their latest announcement the ATO announced they will be using data matching techniques to target property investors.

From my experience the ATO tend to target the following areas:

This is the most common area of concern in my opinion, and some of the obvious mistakes I have seen include:

Be safe this financial year – get a Quantity Surveyor like Washington Brown to prepare a depreciation report for you and hand that report to a qualified accountant.