INVESTMENT PROPERTIES CHECKLIST:
Do you have an investment property that is rented out during the financial year?
- Property address:
- Purchase date:
- Purchase price:
- Your ownership share (%). The other owner’s name(s) & share %.
- The first date that the property was rented:
- Total number of weeks the property “available to rent”:
- Do you receive a real estate agency’s “end of year financial statement”?
- If youIncome includes: manage the property by yourself, you will be able provide summaries for all income and expenses related to the rental property.
- Do you have a “depreciation schedule”? Please provide a copy from a licensed quantity surveyor if you have one.
- Rental income (if it is commercial, excluding GST)
- Water usages paid by the tenants
- Bond refund collected by the landlord after tenant vacates
- Insurance payouts
- Other re-imbursed payments
Rental expenses you can claim:
- advertising for tenants
- bank fees
- strata levies
- cleaning costs
- council rates
- water rates
- gardening and lawn mowing
- insurance – building, contents and public liability
- Mortgage (loan) interests
- land tax
- pest control
- property agent fees and commissions
- stationery and postage
- travel undertaken to inspect or maintain the property or to collect the rent
- borrowing expenses (claim over 5 years)