Data-matching program for rental properties

Recently, the Australian Taxation Office announced that they are undertaking a data-matching program with property management software providers. These are the rental statements that you receive on a regular basis from your real estate agent for your rental property.

The data-matching program is going back to the 2018–19 financial year and will continue through to the 2025–26 financial year.

The main focus of this data-matching program is to:

- identify and educate individuals and businesses who may not be lodging their income tax returns, not correctly reporting assessable income from a rental property, not correctly reporting associated rental deductions and not complying with capital gains tax obligations for properties used to derive rental income

- gain insights to help develop and implement strategies, which may include educational or compliance activities for individuals and businesses who lease or let real property, and

- promote voluntary compliance and increase community confidence in the integrity of the tax and superannuation systems.

Our focus is to ensure that you are getting the best possible tax outcome. However, if you review your past records and notice that you made an error, please let us know. In particular, look out for:

- any year that you forgot to include rental income if you held more than one property

- situations where the rental income declared in tax returns are not at the same proportion as the ownership documents, and

- you may have claimed an outright deduction for an asset that may have needed to be claimed over multiple years.



If you have any questions about this data-matching program or would like to review your arrangements, please contact our office.