Tax Return Checklist for Property Investors - GFA Accountants

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Tax Return Checklist for Property Investors

INCOME

Rental Property Summary Report from your Real Estate Agent

Details of any other income – including insurance payouts for damages, reimbursements from tenants, etc.

Capital Gains from the sale of a property – we’ll need copies of your purchase and sale contracts

DEDUCTIONS

IMMEDIATE DEDUCTIONS – You can claim these expenses immediately in your Tax Return.

Property Management + Maintenance Expenses

☐	Advertising for tenants – paid by you or paid by agent
☐	Body Corporate fees or Strata Title fees and charges. Special levies for capital works on a building can only be depreciated at 2.5%
☐	Cleaning
☐	Gardening / Lawn Mowing
☐	Pest control
☐	Security patrol fees

Administration Expenses

☐	Stationery used to maintain your rental records
☐	Postage on documents relating to property management
☐	Telephone calls relating to property management – Keep a diary record of these to satisfy the ATO
☐	Legal expenses relating to debt collection or tenant problems
☐	Electricity and gas – paid by you

Insurances

☐	Landlords
☐	Building
☐	Contents
☐	Public Liability

Property Agent Management

☐	Fees/commissions – including GST
☐	Postage
☐	Statement fees and
☐	Bank charges/fees
☐	Lease document expenses
☐	Letting fees