Expenses you can claim for your Investment Property

There are many benefits to owning investment properties and one of the main ones is the ability to write off expenses. Listed below are a few of those expenses you can write off. Note: These expenses can only be claimed if you incur them and not if they are paid by the tenant.

Property

  • Cleaning
  • Gardening, landscaping and lawn mowing
  • Repairs and maintenance
  • Servicing costs such as water heater, air conditioning
  • Body Corporate fees and charges
  • Insurances
  • Pest Control

Administration

  • Stationary and Postage
  • Telephone calls and rental  costs
  • Agent fees and commissions
  • Secretarial, bookkeeping and accountancy fees
  • Advertising for real estate
  • Travel and car expenses such as for rent collection, inspection, maintenance

Government

  • Water
  • Land tax
  • Council Rates

Utilities

  • Electricity and gas
  • In house audio/video service charges
  • security system/patrol

Legal

  • Corporate fees and charges
  • Insurance
  • Lease document expenses
  • Legal expenses
  • Surveyor fees

Bank

  • Bank fees
  • Interest on loans
  • Mortgage discharge expenses
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