August 2021 Tax Round Up - carrying on a rental property business

When is a client carrying on a business of renting property? We explore the latest case defining the boundaries.

Members, download the full August 2021 Tax Round Up (login first) from the member-only website. To see what Knowledge Shop membership offers, call the team on 1800 800 232 or take an online tour.

Inside this month Michael Carruthers (Tax Director, Knowledge Shop), Matthew Tse (Tax Adviser, Knowledge Sop), and Lisa Armstrong bring you:

• The current tax status of COVD-19 payments and grants
• New guidance from the ATO on deductions for expenses relating to holding vacant land.
• The case that looks at whether a taxpayer

  was carrying on a business of renting property (Allen v FC of T [2021] AATA 2768 and Allzams Trust v FC of T [2021] AATA 2767). We get that question a lot on Knowledge Shop’s help desk!