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Do bonds have to be lodged?

A rental bond is a security deposit paid at the start of the tenancy. If the property manager/owner takes a bond, they must give the tenant a receipt and lodge it with the RTA within 10 days. It is an offence not to do so.

What happens if the landlord does not lodge a bond WA?

Penalty units will be charged for not lodging the bond to the RTA within 10 days. The landlord can be fined up to 60 penalty units. It is a strict liability offence. A person can be fined 20 penalty units.

Do bonds need to be reported on taxes?

The interest you earn on corporate bonds is generally always taxable. Most all interest income earned on municipal bonds is exempt from federal income taxes. When you buy muni bonds issued by the state where you file state taxes, the interest you earn is usually also exempt from state income taxes.

Do you have to declare bonds?

If you are able to withdraw funds from the account at any time during the term, then the interest is taxable in each year that it arises. If you have no access to the funds in the fixed rate bond until the bond matures, then you are taxable on the interest only in the tax year the bond matures.

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