Tax office booklet for landlords

EXPENSES FOR WHICH YOU CAN CLAIM AN IMMEDIATE DEDUCTION

Expenses for which you may be entitled to an immediate deduction in the income year you incur the expense include:

• advertising for tenants
• bank charges
• body corporate fees and charges*
• cleaning
• council rates
• electricity and gas
• gardening and lawn mowing
• in-house audio and video service charges
• insurance
  • building
  • contents
  • public liability
• interest on loans*
• land tax
• lease document expenses*
  • preparation
  • registration
  • stamp duty
• legal expenses* (excluding acquisition costs and borrowing costs)
• mortgage discharge expenses*
• pest control
• property agents fees and commissions
• quantity surveyor’s fees
• repairs and maintenance*
• secretarial and bookkeeping fees
• security patrol fees
• servicing costs, for example, servicing a water heater
• stationery and postage
• telephone calls and rental
• tax-related expenses
• travel and car expenses*
  • rent collection
  • inspection of property
  • maintenance of property
• water charges.

  You can claim a deduction for these expenses only if you actually incur them and they are not paid by the tenant. Deductions marked with an asterisk (*) are discussed in detail on the following pages.

For full booklet click on: Rental Properties 2014