Tax pitfalls loom for property investors.

Australasian Business Intelligence, May, 2003

May 01, 2003 (The Australian Financial Review - ABIX via COMTEX)

An Australian property tax expert warns that a ruling by the Administrative Appeals Tribunal could erode depreciation. The decision disallowed certain items from depreciation tax deduction claims. Lachlan Wolfers of Thomson Playford says the decision will affect buyers of investment apartments, with the Australian Taxation Office (ATO) scrutinising depreciation claims. Adam Arden of Napier & Blakeley agrees, saying depreciation has been made more complex. Arden's company checked the ATO ruling with offices around Australia, and discovered that interpretation of depreciation rules was not consistent.

Publication Date: 2 May 2003

AUSTRALIAN TAXATION OFFICE: 

AUSTRALIA....

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.