Hello, I have read somewhere that claims of $300 or less for repairs and maintenance per property per year don’t even get looked at or checked by the ATO? Presumably you don’t need to keep receipts if this is the case. Can anyone confirm this or has anyone heard similar? I am talking about total repairs R&M not individual items Cheers, Smallbuyer
I also heard that President Nobongo also has $11m USD in a secret account and needs my help to transfer the funds out of his country. think they are referring to work related claims greater than $300
Only $11m? isnt that just your cut? I have heard about work claims but am curious about repairs. Perhaps it is that they turn a blind eye to things when the total is under $300, consider that fair R&M or something?
No I don't believe so. As someone who's faced the ATO in the tribunal, it's not an experience I'd recommend
I think you are probably getting this confused with < $300 items that can be written off immediately for depreciation purposes. https://www.ato.gov.au/Individuals/...estions-D1-D10/D6---Low-value-pool-deduction/