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Residential rental property travel expenses: ATO guidance

Friday 16 November 2018

Since 1 July 2017, people, self managed super funds (SMSFs), “private” trusts and partnerships have not been permitted to claim non-business travel costs connected to residential rental properties as tax deductible.

These costs also cannot form part of the cost base or reduced cost base of a capital gains tax (CGT) asset.

The ATO has released new guidance about this, including details about the legal meanings of “residential premises” and “carrying on a business”.

Not sure if you can deduct the costs of maintaining your investment rental property?  Talk to us today to work it out.

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