Warning on dangers of using rental platforms

As if life wasn’t tough enough for renters right now, according to the consumer group CHOICE more than two in five renters have been pressured to use so-called “rent tech” – third-party rental platforms – when they apply for a lease.

According to CHOICE, these platforms put tenants at risk of data breaches and often leave them with additional fees, including paying for their own background checks.

In a worst-case scenario, rent tech can see renters excluded from housing.

“Automated decision-making systems are becoming an increasingly common part of rental application systems,” says CHOICE consumer data advocate Kate Bower.

The Snug platform, for example, produces a “match score” for rental applicants, using the personal information submitted by a renter to indicate their suitability for particular properties.

“A sore lack of regulation in this market means these automated decision-making systems could increase the barriers and discrimination for be worth trying to defer part of your takings until next financial year by holding off invoicing customers until after July 1, 2023. This can be a useful strategy if you anticipate a quieter 12 months ahead.

8. Invest in staff training

Small businesses with aggregated annual turnover below $50 million may be eligible to claim an extra 20% for the cost of staff training.

The training needs to be run by an external registered provider to be eligible for the additional claim.

9. Boost your technology capabilities

There may still be time to take advantage of the government's Small Business Technology Investment Boost.

Introduced in the 2022-23 federal budget, it allows small businesses to claim 120% of the cost of digitising operations. This includes spending on portable payment devices, improving your cyber security systems or subscriptions to cloud-based services.

Any tech hardware you buy to take advantage of the upscaled deduction must be in place by June 30, 2023.

10. Consult your adviser Tax law is complex and stiff penalties can apply for getting it wrong.

A quick check with your tax accountant before June 30 can alert you to pitfalls to avoid as well as potential deductions you haven’t considered to help take the sting out of this year’s tax bill.