2017 Federal Budget Tax Issues

Rental property travel expenses no longer tax deductible

From 1 July 2017 rental property owners will be unable to claim a tax deduction for travel expenses related to their rental property.  Unfortunately this includes all travel costs eg. to inspect the property,

2017 Tax Planning

General concepts of tax planning involve:

  • Delaying the derivation of income – you might not deposit income if on a cash basis, or delay invoicing customers until 1 July if on an accruals basis, of recognising the derivation of income;