First-time landlord tax checklist
If this is the first year you have rented out a property, the volume of new admin can be overwhelming. The good news: a few habits set up early will save you hours at tax time.
Practical checklist
- Confirm the date the property was first available for rent
- Confirm the date the property was first rented
- Open a separate bank account or label for rental transactions
- Request your annual loan interest statement
- Set up a folder structure for receipts and notices
- Decide whether to engage a quantity surveyor
- Engage a registered tax agent if you have not already
Common mistakes
- • Forgetting that initial repairs may not be immediately deductible
- • Claiming expenses from before the property was genuinely available for rent
- • Missing pre-rental costs that may form part of the cost base
How the app helps
- • A guided onboarding flow for your first property
- • Clear date fields for acquisition, first available, and first rented
- • Tooltips that explain common rental tax concepts in plain English
Frequently asked
Frequently asked questions
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