Ethan Housing RTOC amendments

Hello,

Received my RTOC from Ethan housing for 2016/17. Can anyone please help me in making amendments to my tax returns for year 2016/17 so Federal portion of my NRAS can be claimed? Thanks

 

Contact the ATO, they should be able to guide you.

 

I would seek personal tax advice. You have to navigate some technical issues with non assessable non exempt income.., tax credits and also non deductible issues.

You have a high chance of error. I have never seen as taxpayer get it right

 

To the Accountant and the likes, try to amend my tax for 2015-2016 for NRAS RTO, in the "T8. Other non-refundable tax offsets" section, it ask for a claim type being E/M/S ... which code should NRAS RTO select, I am not sure NRAS RTP fits any of the code

Checked with ATO online chat, and Corey does not know either and asking me to come back Monday

 

if you are attempting it online via MyGov , NRAS is dealt with under the section relating to Trust Income. Some genius put it there instead of under Refundable Tax Offsets...

If you are lodging via an accountant/tax professional, I believe it's under section 12 or 13 of the portal they use ...

I have some experience in these matters, having being audited 4 years in a row because of the size of my claims each year . Have been paid exactly what I claimed, each time...

The easiest way for you to deal with this is to have your accountant take care of it ...

On a separate note - did you only just get your 16/17 RTO from Ethan? Have you received 17/18 as well?

 

The Individual return contains the NRAS tax credit item and should also quote the certificate number/s to assist the ATO to manually check the item to avoid delays. Its item 13 for all individual taxpayers excepting a trust which owns a NRAS property. The tax agent cannot access any NRAS information through ATO systems

Also make sure the rental deductions are adjusted to reduce the deductions for the non-assessable, non-exempt income. The ATO seem to be checking more taxpayers for this now. I have had two taxpayers seek assistance after they self prepared and had the NRAS credit refused for that issue.