To optimise the return on your investment property or properties, it is important to be aware of the tax deductions available to you.
Listed below is an overview of expenses that you may be able to claim:
- Managing agent fees & commissions
- Stationery & postage
- Telephone calls
- Bank charges
- Advertising costs
- Cleaning & repairs
- Pest control
- Insurance cover
- Tax-related expenses
- Servicing costs (i.e. pool, spa, heaters)
- Council rates
- Water charges
- Electricity and gas supply
- Gardening & lawn maintenance
- Legal expenses
- Interest on loans
- Land tax
- Travel expenses to inspect the property
- Depreciation on fixtures & fittings
- Capital depreciation (building)
Be sure to retain all your invoices.
Click here to download a handy spreadsheet to help you to summarise your income and expenses.
We strongly recommend that you consult your accountant or financial advisor to assist you with claiming your maximum allowable tax deductions.
Fitzpatricks
Established in 1950 by the late Geoff Fitzpatrick. We strive for excellence in our field, we aim to provide the best real estate service to the people of Wagga Wagga, embracing the highest standards of expertise, professionalism and integrity.