Rental Income

If you own a rental property or two then we will need to know what income and expenses where earned from the property.

Any Net Profit adds to your taxable income, while a Net Loss should reduce your taxable income.

Before you come and see us, try to complete the following list.   It might give you a few clues on what you can claim.

Download the Rental Income PDF or print out this page.

 

Owner’s Name:__________________________________________ % Ownership:____________
Owner’s Name:__________________________________________ % Ownership:____________
Address of Property:_____________________________________________________ State:______P/Code______
Date first available for rent:_____________________No of weeks rented this year:______________

INCOME   DETAILS
Rental Income    
Other Income    
TOTAL INCOME
   
 
EXPENSES
$
DETAILS
Advertising    
Body Corporate Costs    
Borrowing Costs    
Cleaning    
Council Rates    
Depreciation (Note 1)    
Gardening    
Insurance    
Interest (Note 1)    
Land Tax    
Legal Costs    
Pest Control    
Property Agent Fees    
Repairs & Maintenance (Note 1)    
Building Write Off (Note 1)    
Stationary, Telephone, Postage    
Travel Expenses (Note 1)    
Water Charges    
Sundry Rental Expenses    
   
   
   
TOTAL EXPENSES    
PROFIT/(LOSS)    
  • One schedule should be prepared for each property rented out during the year.
  • Note : This expenses is a potential ATO audit area for 2011.