Updates

Business and Tax News Updates

Travel deductions for rental properties removed

Deductions for travelling to a residential rental property will no longer be allowable for individuals after 1 July 2017. This removal is for individuals travelling to collect rent, maintain the property or complete an inspection.

Announced in the 2017/18 Federal Budget, this removal allows only a short period before 30 June for taxpayers to obtain a final deduction before the change.

This measure will not prevent investors from engaging third parties such as real estate agents for property management services. This expenses will remain deductible.
Source: Budget paper No 2, p 29

Holly Yao