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The taxman has a warning for property investors this year

Tom McIlroy

As many as nine out of 10 landlords make mistakes or illegitimately claim extra rental deductions as part of their annual tax return, prompting a warning from the Tax Office about accuracy.

ATO assistant commissioner Rob Thomson said special scrutiny would be applied to rental property deductions, dodgy work expense claims and undeclared income when officials process the roughly 20 million tax returns expected to be lodged after July 1.

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Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com

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    Original URL: https://www.afr.com/politics/federal/the-taxman-has-a-warning-for-property-investors-this-year-20240505-p5fp02