Advertisement
Tax specialists are reporting an “exponential” increase in the number of cash-strapped landlords seeking tax deductions amid falling rents from tenants, according to The AFR:
“The rate of inquiries from property investors in April has been increasing exponentially from the lows of late March,” says Nol Petrohelos, a director of BMT Tax Depreciation, which specialises in tax depreciation for residential and commercial property.
“I expect July will be a bumper period for taxpayers lodging early to get their hands on bigger-than-usual refunds,” says Mark Chapman, director of tax communications for H&R Block.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Advertisement