Save tax on rental income with these deductions

Some of the main types of expenses you can claim on your investment property include management costs, maintenance costs, borrowing expenses and depreciation.

Management & maintenance costs include:

·     Advertising

·     Bank fees/loan charges

·     Body corporate fees

·     Cleaning costs

·     Council rates

·     Utilities not paid by the tenant

·     Landlord insurance

·     Legal expenses

·     Land tax

·     RealRenta subscription fees/management costs

·     Repairs and maintenance

·     Travel and car expenses ( only for rent collection and expenses)

·     Costs incurred for inspection & maintenance

Borrowing expenses include the interest on your investment loan but not the principal amount to be paid.

Other fees include:

·     Loan establishment fees

·     Lenders mortgage insurance if applicable

·     Title search fees

·     Mortgage broker fees if applicable

·     Stamp duty

*Depreciation losses on new items ( blinds, carpets, furniture, water systems etc) can also be claimed.


Need a property loan?

Contact us @ propertyloans@realrenta.com




Jason Gwerder
Tuesday, 21 January 2020

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