Be organised – in case of the unlikely event of an ATO Audit!

It is very important to keep all receipts for post purchase expenditure – too often we speak to clients who have not kept a record or receipts usually because they did not expect that their property would be leased in the future or because they were not aware of depreciation schedules existing.  As you have paid for these items yourself, we will have to use what the ATO state as ‘actual costs’

This is similar to completing your own personal tax return – you should not claim for something that you have not got a receipt for!!

We do not need to see invoices or proof of expenditure – although I would highly recommend that you do have this information in the unlikely event of an ATO audit.

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