Probably the biggest list on the internet of tax deductions for your property investment!
“Don’t miss out.”
But then..
“Don’t overclaim.”
“This one you can only claim over 5 years if XYZ and ABC overlap.”
Oh. This one “only claimable when you sell” if you meet conditions EFGHIJKL.
What a tailspin! I don’t recommend anyone attempting to get this right by themselves.
But..
As a property investor in Australia, it’s important to understand the various tax deductions that you are actually entitled to on your rental property. Knowing these deductions can help you save money and maximize your investment. Here is a comprehensive list of 150 tax deductions for property investments in Australia that you may be eligible to claim at some point but not others, in some ways but not others, some of the times! i.e. For educational purposes only – not for you to attempt your return yourself. We do NOT recommend that. Contact us if you need help.
Acquisition and disposal expenses for property
Air conditioning maintenance and repair expenses
Annual subscription expenses for property publications
Appliance servicing and repair expenses
Arborist expenses for common areas
Audit fees for the investment property
Body corporate maintenance expenses
Body corporate management fees
Body corporate insurance expenses
Bond cleaning expenses
Borrowing expenses for financing property investments
Building and pest inspection fees
Building inspection report expenses
Capital works expenses
Carpet cleaning expenses
Cash handling expenses
CCTV installation and maintenance expenses
Certification expenses
Cleaning equipment and machinery expenses
Cleaning services expenses
Computer hardware and software expenses
Connection fees for utilities
Content insurance for the property investment
Conveyancing fees for the rental property
Council compliance expenses
Credit check expenses for tenants
Debt collection expenses
Design expenses for rental property renovations
Electrical safety check expenses
Emergency repairs and maintenance expenses
Equipment hire expenses
Expense of acquiring new tenants
Expense of evicting tenants
Expense of renewing lease agreements
Expense of rental property revaluation
Expense of vacating tenants
Expenses incurred for professional property management
Expenses incurred for tax and legal advice
Expenses related to the acquisition of a rental property
Expenses related to the sale of a rental property
Expenses related to the transfer of a rental property
Depreciation
Council rates
Insurance
Repairs and maintenance
Advertising costs
Body corporate fees
Land tax
Cleaning expenses
Pest control
Travel expenses
Mortgage fees
Legal fees
Accounting fees
Utilities
Repairs to common areas
Bank charges
Interest on loans
Tax agent fees
Borrowing expenses
Building insurance
Cleaning supplies
Curtain and blinds expenses
Decorating expenses
Electrical repairs and maintenance
Gardening and lawn mowing expenses
Gas and electricity charges
Interest on credit cards used for rental expenses
Lighting expenses
Loan establishment fees
Management fees
Mortgage discharge expenses
Moving expenses
Painting expenses
Pest inspection expenses
Plumbing repairs and maintenance
Property valuation fees
Quantity surveyor fees
Real estate agent fees
Replacement of appliances
Security system installation and maintenance
Servicing expenses
Smoke alarm installation and maintenance
Stationery and postage expenses
Strata management fees
Tax-related expenses
Telephone expenses
Tenant relocation expenses
Termination of lease expenses
Termination of tenancy expenses
Tiling expenses
Training and education expenses for property management
Tree lopping and removal expenses
Valuation fees for the property
Vehicle expenses for property inspections
Water charges for common areas
Window cleaning expenses
Work-related clothing expenses
Administrative expenses
Bank fees for property-related accounts
Body corporate legal fees
Body corporate special levies
Bond expenses
Building inspections
Business registration fees
Cleaning supplies and equipment
Council rates for common areas
Couriers and messenger expenses
Deposit interest expenses
Depreciation on capital works
Earthquake and flood insurance
Electricity expenses for common areas
Emergency services levies
Equipment rental expenses
Fire protection expenses
Flood protection expenses
Gardening equipment and tools
Gift vouchers for tenants
Graphic design expenses
Home insurance for the property owner
Inspection report expenses
Legal expenses for property-related court actions
License fees for property software and applications
Maintenance expenses for common areas
Marketing expenses for the rental property
Mortgage exit fees
Mortgage insurance
Obtaining professional advice on tax affairs
Office expenses
Property listing fees on rental websites
Property title search expenses
Quantity surveying expenses
Rental listing fees
Rent recovery expenses
Roofing repairs and maintenance
Secretarial and bookkeeping expenses
Security system expenses
Smoke alarm replacement expenses
Tenancy database search fees
Tenant credit check fees
Tenant screening fees
Termination of rental agreement expenses
Tile and grout cleaning expenses
Travel and accommodation expenses related to rental property ownership
Water usage charges for common areas
Website design and maintenance expenses for the rental property
Whitegoods rental expenses
Account keeping fees
Mortgage interest
Property management fees
As a property investor, it’s essential to take advantage of all the tax deductions you are entitled to on your rental property. The list of 150 tax deductions we’ve provided covers a broad range of expenses that you may be able to claim, including property management fees, repairs and maintenance costs, travel expenses, insurance, and more. Keep this list in mind as you navigate your property investment journey in Australia, and consult with a tax professional to ensure you are claiming all the deductions you are entitled to.