New Clients are unable to lodge Rental Property claims through our Online system.
What do I need for my Rental Property claim?
Our Rental Property Schedule provides a summary of what is required in the tax return and includes a list of common deductions. Please note that every rental property is different so if you have any specific questions about your individual rental property, please contact us.
I’ve purchased a new rental property, what do I need?
The New Rental Purchase document summarises the information that the accountant will need to review when completing the first tax return after purchase. It also provides you with additional information about what can and can’t be claimed. When used in conjunction with the Rental Property Schedule, it will cover all the required information needed by the ATO.
What if I have sold my Rental Property?
While each case may be slightly different, the information contained in Selling a Rental Property along with the Capital Gains Checklist should assist you in collating most of the necessary information.
I own a Rental Property overseas, what do I need to do?
Firstly, whether or not you have included this income in a foreign tax return, you still need to disclose the income in your Australian Tax Return. If you have paid tax in the foreign country, the ATO will generally give you a credit for this tax.
You will need to use the Rental Property Schedule to ensure you have covered the necessary income and expenses. You will also need to convert your expenditure to Australian Dollars.
The ATO provides a very comprehensive guide to rental properties.
Additionally, the ATO has information on common mistakes with Rental Properties in tax returns and how to avoid them