Rental Deductions | 2023 Gotax

Interest on loans:

You can claim a deduction for the interest charged on a loan used to purchase a rental property, or to finance renovations or repairs. The property must be rented or genuinely available for rent in the income year you are claiming a deduction for the interest expenses .

Council rates:

You can claim a deduction for council rates paid on your rental property. Council rates are taxes levied by local governments to fund services and infrastructure in the area .

Repairs and maintenance:

Expenses incurred to repair and maintain the rental property can be claimed as deductions. This includes fixing plumbing issues, repainting walls, and other general maintenance .

Depreciating assets:

You can claim a deduction for the decline in value of depreciating assets such as appliances and furniture. Depreciating assets are items that have a limited effective life and can reasonably be expected to decline in value over time .

Capital works:

You can claim a deduction over several years for capital works such as building construction costs or improvements to the property. Capital works deductions are income tax deductions that can be claimed for expenses such as building construction costs or the cost of altering or improving a property .

Body corporate fees and charges:

You can claim a deduction for body corporate fees and charges paid on your rental property. Body corporate fees are levied by the body corporate or owners corporation to cover the cost of maintaining and managing common property in a strata scheme .

Water charges:

You can claim a deduction for water charges paid on your rental property. Water charges are fees levied by water supply authorities for the provision of water services .

Land tax:

You can claim a deduction for land tax paid on your rental property. Land tax is a state or territory tax levied on the owners of land, based on the value of the land .

Cleaning:

You can claim a deduction for cleaning expenses incurred on your rental property. This includes expenses such as hiring a cleaner or purchasing cleaning supplies .

Gardening and lawn mowing:

You can claim a deduction for gardening and lawn mowing expenses incurred on your rental property. This includes expenses such as hiring a gardener or purchasing gardening supplies .

Pest control:

You can claim a deduction for pest control expenses incurred on your rental property. This includes expenses such as hiring a pest control service or purchasing pest control supplies .

Insurance:

You can claim a deduction for insurance premiums paid on your rental property, including building, contents, public liability, and loss of rent insurance. Insurance premiums are payments made to an insurance company to provide coverage against specified risks .

Property agent’s fees and commission:

You can claim a deduction for fees and commissions paid to a property agent to manage your rental property. Property agents provide services such as finding tenants, collecting rent, and managing repairs and maintenance .

Legal expenses:

You can claim a deduction for legal expenses incurred in relation to your rental property, such as the cost of evicting a non-paying tenant or resolving disputes with tenants .

Advertising for tenants:

You can claim a deduction for advertising expenses incurred to find tenants for your rental property. This includes expenses such as placing ads in newspapers or online classifieds .

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