Powered by MOMENTUM MEDIA
realestatebusiness logo
Powered by MOMENTUM MEDIA
Subscribe to our newsletter SIGN UP

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

news image

REB Awards principal – regional finalists revealed

June 01, 2020Reporter

REB is pleased to announce the finalists for the Principal of the Year – Regional category at this year’s REB Awards. ...

REB_top100agents
top 10 agents

1

Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

VIEW COMPLETE REPORT

Have you experienced sexual harassment or bullying in the workplace?

Yes, I've been the victim of sexual harassment (15.8%)
Yes, I've been the victim of workplace bullying (21.1%)
No (63.2%)

Total votes: 19
The voting for this poll has ended on: April 30, 2020
TECH MARKETING SALES BETTER BUSINESS PROPERTY MANAGEMENT
pile documents reb REINSW launches own contract creation tool

A new online program is set to revolutionise the sales process and get properties to market quicker than ever before, ac ...

Gary Flowers reb Yabonza enlists heavyweight to board

Property start-up Yabonza has named a new board chairman to propel the company through its next phase of growth. ...

Neville Pozzi reb REIWA rolls out new ‘digital doorknock’ strate ...

The Real Estate Institute of Western Australia’s longstanding partnership with The Salvation Army is seeing the real e ...

Property technology app smartphone reb App aims to kickstart the real estate market

As the real estate industry continues to adjust to the new norms brought about by the COVID-19 pandemic, an app develop ...

Mark Morrison WEB 2020 REB Business Empowerment Showcase: An innovative p ...

The global pandemic has undeniably presented some challenges for the real estate sector. However, there are still opport ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

Heath Williams WEB Selling Brisbane’s most luxurious properties dur ...

After an initial lull, things have started ramping back up in the Brisbane property market, but Heath Williams, lead age ...

Mark Morrison WEB 2020 REB Business Empowerment Showcase: An innovative p ...

The global pandemic has undeniably presented some challenges for the real estate sector. However, there are still opport ...

Michael Johnson WEB How COVID-19 has been impacting real estate agents ...

In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting t ...

Tom Panos 140520 What’s Making Headlines – 14 May 2020

What’s Making Headlines is your new source for all the latest in Australian real estate news. ...

Heath Williams WEB Selling Brisbane’s most luxurious properties dur ...

After an initial lull, things have started ramping back up in the Brisbane property market, but Heath Williams, lead age ...

Positive Mindset in Business reb The impact of a positive mindset in the business o ...

Let’s be real: running a business or an office is stressful. Here’s a quick rundown of some insights on keeping yo ...

Cameron Black reb Lies and statistics: Has the property market actua ...

It seems like there has been a huge change of sentiment in the last month as a confluence of factors has come together t ...

short 850x400 june2019 How to get that big win

Getting a big win is more than just sales. It involves strategic planning and setting goals, according to real estate bu ...

MeganSmith 050719 cropped Ray White’s Megan Smith sells $14m property in B ...

Ray White Balmain sales dynamo Megan Smith has sold one of the most expensive houses in Australia this year, with the pr ...

Clayton Howes reb ‘Pay later’ solution launched for landlords

A new solution has been rolled out to Australian landlords, enabling them, agents and property managers to better manag ...

property realestate reb ‘Earlier than expected’ recovery pinpointed fo ...

In what marks good news for property managers, a real estate group says some positive signs are beginning to emerge with ...

housing properties reb New projects to enable better housing policy decis ...

The Australian Housing and Urban Research Institute (AHURI) is undertaking several priority research projects which aim ...

suburbs high shot reb Forward indicators point to property recovery

The property market is beginning to show signs of life, with sellers looking to cash in on buyers’ demand, according t ...

EVENTS
REBAWARDS Listready
Real Estate Business Awards 2020

The REB Awards is the benchmark of success in the Australian real estate industry. It reflects not only the business astuteness of the country’s leading real estate operators and networks..

Learn more >
FROM THE WEB
Recommended by Spike Native Network
Do you have an industry update?
rpm logo latest

ATO to double its rental audits

18 April 2019 Tim Neary

The ATO has warned rental property owners to make sure that their claims are correct this tax time, as it intends to prioritise deductions and double its rental audits.

Assistant commissioner Gavin Siebert said that, in the 2017–18 financial year, more than 2.2 million Australians claimed over $47 billon in deductions.

He said that this year the ATO has made rental deductions a top priority.

“A random sample of returns with rental deductions found that nine out of 10 contained an error. We are concerned about the extent of non-compliance in this area and will be looking very closely at claims this year,” he said.

Advertisement
Advertisement

Mr Siebert said that the ATO’s detection methods are becoming more advanced.

“We use a range of third-party information including data from financial institutions, property transactions and rental bonds from all states and territories, and online accommodation booking platforms, in combination with sophisticated analytics to scrutinise every tax return,” he said.

“Where we identify claims of concern, ATO staff will investigate and prompt taxpayers to amend unjustifiable claims. If necessary, we will commence audits.”

Mr Siebert said that overclaiming is problematic.

“Overclaiming robs the whole community of essential services and will not be tolerated by the Australian community. The government recently allocated additional funds to the ATO to extend its program of audits and reviews of rental properties.

“We expect to more than double the number of in-depth audits we conduct this year to 4,500, with a specific focus on overclaimed interest, capital works claimed as repairs, incorrect apportionment of expenses for holiday homes let out to others, and omitted income from accommodation sharing.

“Once our auditors begin, they may search through even more data including utilities, tolls, social media and other online content to determine whether the taxpayer was entitled to claims they’ve made.”

Mr Siebert said that deliberate attempts to overclaim can attract penalties of up to 75 per cent of the claim.

He said that last year the ATO audited over 1,500 taxpayers with rental claims and applied penalties totalling $1.3 million.

ATO to double its rental audits
taxtime 850x400 april2019
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.