The Australian Taxation Office is reportedly cracking down on holiday home owners who claim deductions from properties they’re only pretending to rent out.
According to The Australian Financial Review, the tax office says it has written to more than 110,000 rental property owners and is monitoring the market closely through reviews and audits.
The newspaper says it’s unclear how many of the property owners the ATO has written to own holiday homes. The office is looking at all deductions that come through its electronic system and a spokesperson said holiday home deductions are being overclaimed.
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Report says ATO has mailed 110,000 rental owners following overclaimed deductions.
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