Maximising Tax Deductions for Your Holiday Home (Nov 24 Tax Update)

Name: Munro's, The Professional Problem Solvers
Address: 308 Fitzgerald Street, Perth, WA, 6000
Telephone: 1800 818 924
Rating: 5

Owners of holiday homes seeking to understand tax obligations and optimise deductions on rental income.

Rental income from a holiday home is taxable.
Deductible expenses can be claimed proportionately when the property is rented out.
Deductions must be adjusted if the property is only partly rented, used privately or rented below market rates.
No deductions for private use expenses, like cleaning after personal stays.
For deduction eligibility during vacant periods, the property must be genuinely available for rent.