Rental Income and Deductions for Your Investment Property

Information to gather and make available to your accountant at tax time

to maximise benefits

Rental Property Income

Rent received $

Other income produced by the rental property $

Total Rental Property Income $

Rental Property Deductions

Usually found in end of year statement from real estate agent

Advertising for tenants $

Council rates $

Body corporate fees and charges $

Cleaning $

Council rates $

Electricity and gas $

Gardening and lawn mowing $

Pest control $

Property agent's fee and commissions $

Repair and maintenance $

Security fees $

Water charges $

Usually found in private records/statements Bank charges (total found on last statement for the financial year) $

Insurance $

Interest on loans (total found on last statement for the financial year) $

Land tax $

Legal expenses $

Mortgage discharge expense $

Quantity surveyor's fees $

Travel and car expenses $

Home Office Expenses and Education Internet $

Stationary and postage $

Phone calls and rental $

Computer repairs and depreciation/virus protection $

Seminars $

Magazines $

Depreciation (as per schedule) $

Total Rental Property Deductions $

* Please complete a separate sheet for each investment property you currently have