Owning an investment property is a dream-turned-reality for over 2 million lucky Australians, according to the ATO. But rental properties aren’t without their issues. On the surface, property seems like a relatively safe and simple investment option. Yet property tax can be complicated and, unbeknownst to some property owners, can also involve a significant amount of risk.
The larger your property portfolio, the more complicated your tax needs will be. If you’d like to minimise your tax it’s essential that your rental income accounting captures all the right details about your investment properties.