What are Tax-Deductible Rental Property Expenses?

If you own a rental property that you receive an income from, you can claim any expense associated with earning that income. Rental property expenses are deductions (from your taxable income) of expenses relating to the owning and operating a rental property. And there are lots of them!

For example, if you pay insurance on your rental property, this is considered an expense you incur to earn income from the property. If you did not own the property you would not incur the expense.

To help ensure you are making correct claims on your next tax return, we’ve listed 27 Rental Property expenses for you to check before the end of the year:

  • Advertising for tenants
  • Bank charges
  • Body corporate fees
  • Cleaning
  • Council rates
  • Electricity and gas
  • Gardening and lawn mowing
  • In-house audio/video service charges
  • Insurance – building, contents, public liability
  • Interest on loans
  • Land tax
  • Legal expenses
  • Lease costs – preparation, registration, stamp duty
  • Mortgage discharge expenses
  • Pest control
  • Property agent’s fees and commissions
  • Capital Works
  • Quantity surveyor’s fees
  • Repairs and maintenance
  • Secretarial and bookkeeping fees
  • Security patrol fees
  • Servicing costs e.g. servicing a water system
  • Stationery and postage
  • Telephone calls and rental
  • Tax-related expenses
  • Travel and car expenses – rent collection, inspection of property, maintenance of property
  • Water charges

We have expertise in the above subject matter. If you need any assistance Contact us at 0424 690 482

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