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.
Hi Lorinda and Ross,
You've probably been asked for a million references over the years so I thought I'd buck the trend and write one for you.
Thank you so much for everything over the last couple of years. Property was amazing when we moved in, great spot, great condition and had all we could possible...
Andrew & Belinda, Executive Tenants, Perth City