IT’S THE END OF FINANCIAL YEAR TIME!
- Posted By Prince Lakshman
Time flies so fast that it is the 2017/2018 End of Financial Year once again. Taxes and finances needs to now be prepared and submitted. If you have not done this yet, take this time to have all the important documents ready.
As an investment property owner in Australia, Australia Taxation Office (ATO) will assess you for the rental income earned during the Financial Year (i.e 1 July to 30 June the following year). It is your responsibility to ensure that the income of your rental property and the expenses associated with the ownership of your investment property is recorded accurately. Most expenses incurred from your investment property are tax deductible and can be claimed from your tax return against your rental income. Speak to your accountant on ways to maximise your tax claims.
The NDL REALTY team have prepared and sent out the 2017/2018 End of Financial Year Statements. This statement reflects a summary of your investment earnings and expenses throughout the financial year. So if you have properties currently managed by NDL REALTY, we have made things easier for you in preparation for the lodgement of your 2017/2018 taxation returns – all you need to do is provide your accountant with a copy of our End of Financial Year Statement.
We understand that finding a trustworthy yet experienced accountant may be difficult, if you would like NDL REALTY to recommend an accountant, please speak to one of our team members. We would be happy to introduce you to our recommended accountants who could assist you in meeting your taxation obligations with the ATO.