A taxpayer might consider:
- Deferring income into a latre tax year;
- Whether a lump-sum receipt is really income for services to be provided in a following year;
- Bringing forward deductible expenses or losses;
Year-end Tax Planning 2016
June 2015 Tax Planner
Principles of Tax Planning
Tax planning may involve using an efficient trading/investing structure, deferral of income, bringing forward deductions, maximising deductions and using all available tax offsets (rebates).
December 2012
Landlords, the ATO and rental deductions
One in seven taxpayers in Australia is a property investor. Each year residential landlords claim a total of around $5 billion in rental losses. Accordingly one can understand the Australian Tax Office’s (ATO) close scrutiny of the deductions claimed by landlords. But a recent case before the Administrative Appeals Tribunal (AAT) demonstrates how far the ATO will go to test the boundaries of what is, and isn’t, tax deductible.