What is the ATO's view on claiming expenses in a tax return when the costs were actually incurred & paid for in previous financial years? Obviously amending tax returns is the most basic answer. Therefore I direct this question to deductions paid for but not claimed in years past the amendment period.
Client incurred claimable interest expenses in relation to an investment property for 5 financial years in a row. No interest claim has been made in previous years. Can we include the 5 years of interest incurred in the one financial year?