With around a third of Australia’s population being tenants,
the government can’t supply sufficient public housing and therefore encourages
ordinary Australians to become property investors and supply rental
accommodation.
To assist you our tax system allows you to claim
legitimate expenses of your property investment business along the way.
There is a long list of expenses related to the purchase and
maintenance of an investment property that is able to be claimed as an
immediate tax deduction and can be claimed in the income year that they were
incurred.
Some of these expenses include:
- The
cost of advertising for tenants for your property
- Bank
charges and interest on loans including break fees on a fixed loan
repayment
- Body
corporate fees and charges;
- Council
rates, electricity, gas, and water charges (unless these are borne by the
tenants)
- Building,
contents, and public liability insurance;
- Some
legal expenses and lease document expenses;
- Depreciation
(which relates to the wear and tear associated with the building and
the fixtures or fittings in the property)
- Pest
control
- Repairs
- Maintenance
and service costs
- Gardening
and lawn mowing costs
- Any
fees and commissions paid to property agents and quantity surveyors
RealRenta has all the
tools that a property manager has but for less than ¼ the cost of a property
manager.
You can now manage your Residential, Commercial or share/student
accommodation property
Join now and the cost
is less than a cup of coffee a week to manage your rental property.
RealRenta also has a
free vision, so why not check it out.
Jason Gwerder
Wednesday, 22 January 2025