Rental Property Tax Returns
Do you own a residential investment property, holiday house or a National Rental Affordability Scheme (NRAS)?
Did you rent your house out through Air BnB?
In May 2024, the ATO estimated that 90% of rental property returns were incorrect. The ATO maintains a strong compliance focus on rental properties; there is much to consider when claiming rental expenses.
Did you know that the ATO receives data from various sources, such as banks, land title offices, insurance companies, property managers, and sharing economy providers, and cross-checks this data to determine the accuracy of tax returns lodged by rental property owners?
At Canberra Tax Solutions, we will ensure you claim all the deductions you are entitled to.
Shares & ETF's (Managed Funds)
Do you hold shares or an ETF (Managed Fund)?
You must ensure that you declare any income derived from your funds, such as interest, Australian and foreign dividends, primary production and non-primary production income and deductions, franking credits, foreign tax credits, and capital gains or losses.
At Canberra Tax Solutions, we ensure that all your EFT's are accurately declared.
Capital Gains Tax
Have you sold your investment property, shares, a managed fund or even your family home?
If you choose to rent your family home, you may be eligible for Capital Gains Tax (CGT) exemptions if you meet specific requirements.
Capital Gains Tax can be complicated, but with our experience, we can assist you in minimising the outcome when you sell your investment.
At Canberra Tax Solutions will be able to provide you with the right details for your situation.
Cryptocurrency
Have you invested in Crypto?
If you have an account with any Australian cryptocurrency provider, the ATO likely already has your data.
Do you know the tax implications of cryptocurrency gains, losses, airdrops, or staking rewards? Did you know that every buy, sell and/or exchange of a cryptocurrency, will most likely attract CGT.
At Canberra Tax Solutions, we use CryptoTax Calculator to ensure you comply with your tax obligations.
Sophisticated Investor Certificates
Our principal is a qualified accountant under ASIC's Corporations (Qualified Accountant) Instrument 2016/786 and a member of the Institute of Public Accountants, a professional body approved by ASIC, and can issue a ‘sophisticated investor’ certificate under sections 761G(4), 761G(7), 708(8)(c), and 708(9B) of the Act, subject to meeting the eligibility criteria.
Property and Portfolio Management
Please note that this is not a financial planning or advice service.
Canberra Tax Solutions can assist in maintaining acquisition and disposal records for income tax returns and record-keeping requirements for Capital Gains Tax (CGT) calculations.
I offer a portfolio asset register to all my clients at no additional charge to assist with their taxation obligations when they purchase and dispose of assets.