by Sophie | Nov 3, 2021 | Checklist
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...
by Sophie | Nov 3, 2021 | Business
HOME OFFICE DEDUCTION For employees: As an employee if you perform some of your work from a home office, you may be entitled to a deduction for the running costs including: for home office equipment, such as computers, printers and telephones, the cost (for items...
by Sophie | Nov 3, 2021 | Business
Expenses deductible over a number of income years Three types of expenses you may incur for your rental property that may be claimed over a number of income years: borrowing expenses amounts for decline in value of depreciating assets capital works deductions....
by Sophie | Nov 3, 2021 | Business
Rental property expenses deductions: What you can claim: You can claim expenses relating to your rental propertybut only for the period your property was rented or availablefor rent; for example, advertised for rent. Expenses could include: advertising for tenants...
by Sophie | Nov 2, 2021 | Business
Low-value pooling You can allocate low-cost assets and low-value assets relating to your rental activity to a low-value pool. A low-cost asset is a depreciating asset whose cost is less than $1,000 (after GST credits or adjustments) as at the end of the income year in...
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