This session will discuss practical issues in minimising tax risk on holiday rental properties. Can your client provide evidence to respond to a day-by-day scrutiny of the electricity bill by the ATO? Is it acceptable that your client’s family accompanied your client when they visited to maintain the property? The ATO can be very sceptical and dig deep in a review or audit.
This session looks at common holiday rental property scenarios, the applicable law (and the ATO’s current interpretation of it) and best practice record and evidence retention.