Tax Return Checklist for Rental Property Income

• Rental statements from property agents – these will include the rental income, property agent fees and commissions, and advertising expenses
• Body corporate / strata fees
• Council and water rates paid
• Landlord insurance fees
• Interest paid on any loans held on the property
• Details of repairs or improvements to the property, if any
• Details of any cleaning or property maintenance, such as gardening and pest control
• Land tax fees paid
• Details of security expenses
• Travel expenses and telephone calls related to rent collection, property inspection and property maintenance
• Mortgage discharge expenses
• Quantity surveyors fees
• Details of leasing costs – including preparation, registration and stamp duty
• Details of borrowing expenses, such as stamp duty or legal expenses on the loan
• Number of weeks the property was rented and date the property first earned rental income

Disclaimer

This is not advice. Items herein are general comments only and do not constitute or convey advice per se. The information contained in these articles is for guidance only and should not be relied upon without obtaining professional advice having regard to your direct circumstances.