Your firm has a client who has been a management accountant for many years and is now also teaching part-time at TAFE and has recently acquired a rental property. We prepared his Tax Return, sent it out for signature.He has sent the Tax Return back to us unsigned, saying that we had made an error in claiming a tax deduction for the interest and expenses for the first four months that he owned the rental property, as it was not earning income at the time, as it runs counter to the matching principle.
Your firm has a client who has been a management accountant for many years and is now also teaching part-time […]
