FEDERAL Member for Leichhardt Warren Entsch has dismissed claims that the Australian Tax Office is targeting investment property owners in Far North Queensland.
It comes after a report by Peter Cameron in the Sunday Mail last weekend said that the ATO had “written to investment property owners in the region battered by Cyclone Yasi accusing them of trying to fiddle their tax, on the basis their rental incomes are down”.
Mr Entsch responded to the article, saying: “The Tax Office isn’t targeting or singling-out cyclone victims in Far North Queensland.
“The ATO is undertaking a national campaign focusing on investment property owners in over 500 postcodes across Australia – particularly in popular holiday destinations.
“With our part of Queensland being a popular destination for tourists, it’s not surprising that people with investment properties here will be included in a national audit.”
Mr Entsch said the ATO was checking tax deductions for investment properties, and giving guidance on how to correctly apportion holiday home rental property claims.
“It’s about everyone contributing as tax monies fund our health system, our kids’ education and vital infrastructure around the country,” said Mr Entsch.
“Therefore it’s only fair that property owners with investment properties only claim deductions for the time that their property is actually being rented out or is genuinely available for rent.”
For more information on claiming deductions for holiday homes, visit www.ato.gov.au/holidayhomes