Australian Property Investor Magazine --- Page: 60-63 : March 2007 Original article by Julia Hartman
ABIX Summary
The Australian Taxation Office (ATO) may choose to do an audit of a rental property. Each person who owns a rental property could find himself or herself in the position of answering an audit questionnaire about all aspects of the property. The owner should have all details and all paperwork on hand. The answers must be accurate and complete. The ATO will want dates, ownership details, details of tenants, rents received, repairs and vacancy periods. The ATO will also want full details of the real estate agency handling the property, a description of the property and full details of the exterior and interior.
