Expenditure that can be claimed:

• Accounting fees & consulting fees
• Advertising- for tenants
• Assets under the value of $1000 purchased separately
• Bank fees
• Bank mortgage interest (subject to recent law tax changes)
• Business use of home (so long as you do not have a property manager)
• Cleaning and rubbish
• Costs involved in evicting a tenant
• Depreciation- where applicable
• Fees incurred when drawing up tenancy agreements
• Fees incurred when arranging a mortgage to finance rental properties
• Garden maintenance
• Insurance
• Legal fees- up to threshold
• Power/ gas – can occur if you need to carry the cost between tenancies
• Property management
• Rates
• Repairs & maintenance
• Security
• Travel to inspect or new tenancy viewing

Expenditure that cannot be claimed:

• Capital expenses
• The rental property purchase price
• The principal part of mortgage repayments
• Costs related to improving the property, beyond repairs and maintenance
• Real estate agent’s fees incurred as part of buying or selling the property.
• Building’s depreciation (residential)
• Your own time involved when carrying out repairs and maintenance work