If you’ve bought a new property since 1 July 2021, make sure you have a depreciation report so that we can maximise your tax deductions for your property; this is essential. If you’ve purchased a property 90/10 or 99/1 it’s vital to have separate reports for each purchaser.
Also, our 2022 Rental Property checklist is very comprehensive; please make sure you review this list before you click “Complete” on the IN8 Client Portal 2022 Tax Return tab, it’s essential that we have all the information we need upfront, to minimise the queries. For any repairs over $300 per owner, we need a copy of the tax invoice, to make sure it really is a repair, and not a capital item or improvement which needs to be depreciated.
Remember, if you have any queries, please use the messaging system on the Portal, as these are reviewed at least daily. We receive many emails daily, and we want our client queries to receive top priority, during this very busy tax period
