Tax Deductions for Landlords Checklist

To be tax deductible, expenses must be actually incurred and must be directly connected with earning income as a landlord. If an expense has joint business and personal purposes, only the business-related portion may be claimed as a tax deduction. Receipts are essential to prove an expense was incurred.

  • Goods and Services Tax
  • Commercial and short-stay residential property – may need to register for GST Residential property – no GST registration required. Claim the GST-inclusive amount of each expense.
  • Interest on borrowings if the property was acquired for the purpose of producing assessable income, including interest paid in advance
  • Borrowing expenses including legal costs
  • Bank account costs
  • Accountants and property consultant fees
  • Insurance
  • Property management
  • Local council rates, water rates and usage, Land Tax
  • Advertising for tenants or for repair work
  • Repairs and maintenance (NOT capital expenses, alterations or additions)
  • Depreciation of building works such as alterations and additions
  • Depreciation of chattels such as carpets, furnishings, etc
  • Building write-off in certain circumstances
  • Travel costs for inspections after purchase
  • Telephone and communication

Check with DBA before taking any action. If you have a lot of receipts, you may summarise them for us. Just remember to keep your receipts for five years. If you are unsure whether an expense is deductible, provide us with the details. We will then let you know if you can make a claim.