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30 Aug 06 Error in magazine article – Make tax time less taxing

The ATO has advised that when the article "Make tax time less taxing" recently appeared in several magazines, it contained an error under the heading "Rent deductions". The article stated "Common mistakes in claiming rent deductions include...claiming the cost of land as a decline in value deduction instead of capital works deductions..." The article should have stated "Common mistakes in claiming rent deductions include...claiming construction costs as a decline in value deductions instead of capital works deductions..."

For a copy of the ATO advice and a link to the corrected version of the article, go here


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