To help you legally maximise your tax refund from your investment property, we’ll need the following information:
GENERAL INFORMATION
- Property Address
- Legal owner(s) and percentage of ownership
- Date purchased
- Date property started earning rental income
- Number of days rented this financial year
- Number of days used for private purposes (e.g. Holiday house, AirBnb)
INCOME
- Gross rental income before any deductions
- Water usage charged to tenants
- Any other income
DEDUCTIONS
- Advertising for tenants
- Bank charges
- Body corporate fees
- Cleaning
- Council rates
- Electricity (While rented or available for rent)
- Gas (While rented or available for rent)
- Gardening and lawn mowing
- In-house audio/video service charges
- Insurance – building, contents, landlord
- Interest on loans
- Land tax
- Legal expenses (tenant related)
- Mortgage discharge expenses
- Pest control
- Property agent’s fees and commissions
- Capital Works (claimed at 2% of the cost per year)
- Quantity surveyor’s fees
- Repairs and maintenance
- Secretarial and bookkeeping fees
- Security patrol fees
- Servicing costs e.g. smoke alarms
- Stationery and postage
- Telephone calls and rental
- Tax agent fees
- Water charges
- Property related purchases and any other expenses
