Australian Tax Office focusing on holiday rentals

THE Australian Taxation Office is setting its sights on the large number of mistakes and false claims made by rental property owners who use their own property for personal holidays.

“Australians should be aware that the ATO is focusing on taxpayers who claim deductions for holiday homes which are not actually available for rent or only available to friends and family,” assistant commissioner Kath Anderson said.

“While private use by family and friends of a holiday home is entirely legitimate, it does reduce your ability to earn income from the property.

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