As proposed in the federal budget on 10 May 2017 and now law, there are changes to claiming depreciation on rental properties. If you acquire a residential investment property which contains “previously used” depreciating assets e.g. whitegoods and

This article was written by Steve Ryan and appeared in our August 2017 newsletter. Being a Shire based accounting firm, Lister Mason sees an enormous amount of tradies come through our doors. Tradesmen tend to be a little rough with their

The following case is a true story.  It goes to prove that simply signing your tax return and not disclosing ALL related income could result in enormous penalties and extra tax.  Mr Gu disclosed $20,800 in salary and wages in his 2013 tax return. 

The ATO will focus on deductions claimed for rental properties in popular Australian holiday destinations this tax year, having identified many incorrect claims for holiday homes by investors last year. Assistant Commissioner Kath Anderson has