Published on 18 May 04
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
The ATO has sent out 15,000 letters to taxpayers explaining common errors in rental deductions as part of its 2003/04 Compliance Program and have requested that a further 5000 taxpayers complete a rental expenses schedule and lodge it with their returns. Furthermore, in the area of capital gains, the ATO will be comparing 8000 individual tax returns with property sales data.
This presentation examines recent ATO activity in this area and other issues that practitioners should be aware of.
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