Property Investment

Property Investment & Tax

If you own an income producing rental property  you can claim any expense associated with earning that income on your tax.
The following items are the most common claims on rental properties:
  • Advertising for tenants
  • Bank charges
  • Body corporate fees
  • Borrowing Expenses*
  • Cleaning
  • Council rates
  • Electricity and gas
  • Gardening and lawn mowing
  • In-house audio/video service charges
  • Insurance – building, contents, public liability
  • Interest on loans
  • Land tax
  • Legal expenses *
  • Lease costs – preparation, registration, stamp duty
  • Mortgage discharge expenses
  • Pest control
  • Property agent’s fees and commissions
  • Capital Works - this claim has been substatuially changed in the last budget
  • Quantity surveyor’s fees
  • Repairs and maintenance
  • Secretarial and bookkeeping fees
  • Security patrol fees
  • Servicing costs e.g. servicing a water system
  • Stationery and postage
  • Telephone calls and rental
  • Tax-related expenses
  • Travel and car expenses – rent collection, inspection of property, maintenance of property for the 2017 year only.  This claim is longer deductible in future years....
  • Water charges​
*Legal expenses on purchase of the property are not ordinarily deductible and there are restrictions on borrowing expenses
 

Did you know?

You can apply to the ATO to reduce the amount of that you pay from your wages so that purchasing a rental property is easier to afford.....one of the benefits of negative gearing!

 

 

Rental property seminars coming soon....
 
Phone our office to register your interest 02 60216762