Property management & maintenance expenses
o Advertising for tenants – directly by you
or where the agent charges you
o Body corporate fees or Strata Title fees
and charges
o Special levies for capital works on a
building can only be depreciated at 2.5%
o Cleaning
o Gardening/Lawn Mowing
o Pest control
o Security patrol fees
o Smoke alarm inspection
Administration expenses including
o Stationery used to maintain your rental
records.
o Postage on documents relating to property
management
o Telephone calls relating to property
management – ATO prefers to see a diary
o Legal expenses relating to debt collection or
tenant problems
o Electricity & gas – where not covered by
tenant
Immediate Deductible Expenses
pROPERTY AGENT
o Fees/commissions – including GST
o Postage & Pettie
o Statement fees
o Bank charges/fees
o Lease document expenses
o Letting fees
RATES & TAXES
o Water rates, charges & usage
o Council rates
o Land tax – first time owners have to lodge an
initial land tax return with the Office of State
Revenue in each state – YOU have to initiate
this.
Repairs & Maintenance
Repairs and maintenance relating to wear & tear or damage as a result of renting out the property. The idea is that an expense is considered a repair when the functionality is being restored. Generally, repairs include but is not limited to:
o Plumbing
o Electrical
o General
o Handyman