The income and expenses from an investment property must be included in your tax return. If you own an investment property, bring the following along to your tax appointment:

Income:

• Rental statement from real estate agent
• Rental break-down (if the property isn’t managed by an agent)

Expenses:

• Real estate agents management fee (rental statement)
• Interest on loan (Bank statements) & bank charges
• Depreciation schedule
• Body corporate fees and charges
• Insurance
• Council rates notice
• Water rates
• Land tax
• Any repairs/maintenance on the property
• Traveling cost (car logbook or diary note if under 5000 KMs)
• Any legal costs of maintaining the property
• Any accounting costs of maintaining the propertyAny accounting costs of maintaining the property
• Any other rental property expenses

Please bring along any investment property related expense that you think could be a deduction and we will advise you whether that is claimable or not.

Please call us today on 9792 2772 for further assistance and to ensure that you are claiming the maximum refund you are entitled to.