Rental Income

rental income If you own a rental property or two then we will need to know what rental income and expenses where earned from the property.

Any Net Profit adds to your taxable income, while a Net Loss should reduce your taxable income.

Before you come and see us, try to complete the following list.   It might give you a few clues on what you can claim.

Download the Rental Income PDF or print out this page.

Owner’s Name:__________________________________________ % Ownership:____________
Owner’s Name:__________________________________________ % Ownership:____________
Address of Property:_____________________________________________________ State:______P/Code______
Date first available for rent:_____________________No of weeks rented this year:______________

RENTAL INCOME DETAILS
Rental Income
Other Income
TOTAL INCOME
RENTAL EXPENSES
$
DETAILS
Advertising
Body Corporate Costs
Borrowing Costs
Cleaning
Council Rates
Depreciation (Note 1)
Gardening
Insurance
Interest (Note 1)
Land Tax
Legal Costs
Pest Control
Property Agent Fees
Repairs & Maintenance (Note 1)
Building Write Off (Note 1)
Stationary, Telephone, Postage
Travel Expenses (Note 1)
Water Charges
Sundry Rental Expenses
TOTAL EXPENSES
PROFIT/(LOSS)
  • One schedule should be prepared for each property rented out during the year.
  • Note 1 : This expenses is a potential ATO audit area for 2016.