You can reduce your taxable income by claiming the costs associated with your property investment, including:

  • The day-to-day running of the property such as Real Estate management fees, council and water rates, repairs and maintenance.
  • Loan establishment fees.
  • Mortgage insurance.
  • Interest on the loans.
  • Newer buildings can claim depreciation of the building, its fixtures and fittings.

Ensure all expenses relating to your property are processed through your Property Manager. This will make it easy at tax time as they will be able to provide you with a comprehensive expense report.

Take your Tax Depreciation schedule to your accountant to claim the maximum back on your investment property. Remember that your Tax Variation Form will provide this payment weekly if required to help with your cash flow.

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