Rental Property Tax Checklist for Australian Investors
Tax time is much easier when your rental property records are organised before you walk into your accountant's office. Use this practical checklist to make sure you have the income, expenses, loan details, and supporting documents your accountant will ask for.
Practical checklist
- Property agent annual rental statement
- All rent received, including any short-stay income
- Bond money you have retained
- Insurance payouts received during the year
- Council rates and water rates notices
- Body corporate or strata statements
- Annual loan interest statement from your lender
- Repairs and maintenance invoices
- Capital works and improvement invoices
- Depreciation schedule from a quantity surveyor
- Property management fees and statements
- Land tax assessments
- Settlement statement (if purchased or sold during the year)
- Records of days rented, available for rent, and used privately
- Ownership percentage and any co-owner details
Common mistakes
- • Claiming an entire capital improvement as a repair
- • Missing private-use days for holiday homes or short-stay properties
- • Claiming interest on the full loan balance when part of it was redrawn for private use
- • Forgetting to apportion expenses when only part of the property is rented out
- • Not keeping the quantity surveyor's depreciation schedule
How the app helps
- • Guided fields for every common income and expense category
- • Flags for items that may need accountant review
- • A document register so nothing is missing at tax time
- • A printable, accountant-ready year-end summary
Frequently asked
Frequently asked questions
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