Rental Property Expenses Schedule

Note: This is a checklist, not advice. Expense claims are subject to limitations based on their character, timing, extent of attribution to rental activities and sufficient substantiation. *Some expense claims may typically be required to be spread over more than one tax year.

  • Advertising for tenants
  • Property management fees
  • Bank fees paid on an account used for rental transactions
  • Body corporate or strata fees paid
  • Borrowing costs*
  • Mortgage discharge costs
  • Loan establishment fees*
  • Capital allowances, decline in value, depreciation *
  • Cleaning
  • Council rates
  • Gardening maintenance
  • Lawn mowing
  • Tree pruning
  • Pool cleaning
  • Maintenance of grounds, buildings, contents
  • Insurances including building, contents and landlords insurance
  • Interest on loan(s) or credit cards used to purchase the property or to pay for anything directly associated with the property
  • Land tax
  • Legal fees – lease preparation
  • Legal fees – debt collection, eviction etc
  • (Legal fees associated with the property purchase – not deductible, but may form part of the cost for CGT purposes)
  • Pest control – prevention or eradication
  • Repairs to property, equipment or fixtures (distinguish replacements or complete renewals which may need to be capitalised
  • Painting
  • Replacing capital items – costs may need to be allocated over the effective life of the asset *
  • Stationery, postage, telephone calls and internet access directly related to  managing the property, e.g. collecting rent or organising maintenance
  • Travelling to inspect, undertake maintenance and repairs or improvements to the property. In some circumstances this can include accommodation.
  • Water rates and water consumption

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