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Ensuring ATO compliance for property investors

Each tax season, the Australian Tax Office directs its attention to specific areas where taxpayers make mistakes, whether inadvertently or intentionally.

Rental properties have been under the spotlight this financial year-end, with the ATO recently announcing that, after a series of audits, they found errors in 90% of rental property-related returns, amounting to a shortfall of close to $1.3 billion between the amount collected and the amount owing.