Save
Tax form trips up Aussies with new rules in play
Taxpayers should be cautious when they’re claiming deductions for investment properties this tax time, and be mindful of one step on their lodgement forms in particular.
Tax form trips up Aussies with new rules in play
Taxpayers should be cautious when they’re claiming deductions for investment properties this tax time, and be mindful of one step on their lodgement forms in particular.

Property investors will no longer be able to claim travel expenses to inspect residential investment properties, as per a measure introduced in the 2017 federal budget.
Mark Chapman, director of tax communications at H&R Block, has seen a lot of confusion from property investors this tax time related to this measure, particularly as there is still a provision to claim travel on tax forms.
“Some additional confusion’s been caused, particular in relation to the travel, because if you actually look at the tax return, there is still a box there where you can claim travel, even though the law says you can’t, and I think that has tripped up some people,” Mr Chapman told Nest Egg sister publication Smart Property Investment.
“Essentially, if you are running a rental property portfolio, if you’ve got rental properties, you just can’t claim travel for the tax year that’s just gone. Any deductions cease to be available at the 30th of June 2017. So, from the 1st of July 2017 onwards, there’s no claim,” he explained.

What does the ATO say?
Although this travel allowance has been largely scrapped, there are certain taxpayers who can claim a deduction for travel expenses incurred relating to their rental property from 1 July 2017, including if:
- you are an excluded entity;
- you are using the property in carrying on a business (including a rental property business); or
- the property is not a residential rental property.
"Given there are taxpayers who fit the criteria above, it is necessary for return forms to have provision to claim the deduction," said ATO assistant commissioner Kath Anderson.
"Best practice for investors is to talk to their agent about the deductions they can and cannot claim, and familiarise themselves with the changes by reviewing the ATO website."

Tax saving
Navigating tax laws for capital gains in 2023
The landscape of Australian tax laws surrounding capital gains is ever-changing, with 2023 being no exception. Read more

Tax saving
What you need to know about the tax implications of crypto
One million Aussies are now invested in crypto, but many have not thought about how these investments will affect them at tax time. Read more

Tax saving
Welfare overhaul could give recipients a leg-up
Australia’s Centrelink recipients who’ve been doing it tough are in for a potentially easier time if the federal government pursues ambitious reforms that could provide sturdier safety nets. Read more

Tax saving
Students should think twice before tapping into their super
Former students might want to think carefully before they look to take advantage of the federal government’s biggest first home buyer incentive. Read more

Tax saving
Advocates call for an end to tax cuts
Social services sector advocates have warned that further tax cuts may make solving Australia’s biggest challenges much harder. Read more

Tax saving
ATO and AUSTRAC may gain new phone-tapping powers
A proposed update to electronic surveillance legislation could see the ATO armed with new powers that would allow the agency to bug phones and intercept online communications. Read more

Tax saving
Over 2m Aussies asked the TPB for help during the last year
As the economy recovers, Australia’s tax regulator says it’s planning to put unregistered practitioners under the microscope. Read more

Tax saving
Will you pay higher taxes due to bracket creep?
Bracket creep will see Australians paying more tax on average, unless further cuts are introduced in the future. Read more

Tax saving
Navigating tax laws for capital gains in 2023
The landscape of Australian tax laws surrounding capital gains is ever-changing, with 2023 being no exception. Read more

Tax saving
What you need to know about the tax implications of crypto
One million Aussies are now invested in crypto, but many have not thought about how these investments will affect them at tax time. Read more

Tax saving
Welfare overhaul could give recipients a leg-up
Australia’s Centrelink recipients who’ve been doing it tough are in for a potentially easier time if the federal government pursues ambitious reforms that could provide sturdier safety nets. Read more

Tax saving
Students should think twice before tapping into their super
Former students might want to think carefully before they look to take advantage of the federal government’s biggest first home buyer incentive. Read more

Tax saving
Advocates call for an end to tax cuts
Social services sector advocates have warned that further tax cuts may make solving Australia’s biggest challenges much harder. Read more

Tax saving
ATO and AUSTRAC may gain new phone-tapping powers
A proposed update to electronic surveillance legislation could see the ATO armed with new powers that would allow the agency to bug phones and intercept online communications. Read more

Tax saving
Over 2m Aussies asked the TPB for help during the last year
As the economy recovers, Australia’s tax regulator says it’s planning to put unregistered practitioners under the microscope. Read more

Tax saving
Will you pay higher taxes due to bracket creep?
Bracket creep will see Australians paying more tax on average, unless further cuts are introduced in the future. Read more