Hot Tip: Optimise All Possible Tax Deductions
Keep ALL receipts. This is very important in claiming tax deductions and make sure to employ the services of a tax accountant specialising in property investment to optimise all possible deductions.
The following are the property management tax deductions you can claim immediately:
- Property Management Fees
- Body Corporate Fees,
- Council Rates,
- Legal Costs, Advertising for Tenants and
- Bank Charges.
Declining Value for Depreciating Assets and Capital Works is another deduction that you may claim over period of time.
For a more exhaustive list of items, click here to download the ATO's Guide for Rental Property Owners.
Again, I can’t fault the planning and efficiency of RMA – I’ve never experienced such good service from a rental management company.
Andrew, East Victoria Park