Property owners can claim a deduction for certain expenses that they incur for the period their property is either rented or genuinely made available for rent throughout the relevant income tax year ended 30 June. There are three categories of rental expenses:
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•ÌýÌýÌýÌý non-deductible expenses
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•ÌýÌýÌýÌý immediately deductible expenses for the full amount of the expense in the income year that the expense was incurred
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•ÌýÌýÌýÌý expenses that can be claimed over multiple income years following the year that the expense was incurred, such as tax-deductible depreciation
Expenditure for which taxpayers are not allowed to claim a deduction include:
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•ÌýÌýÌýÌý acquisition and disposal costs related to the property such as legal, advertising and administrative
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Web page updated on 17 Mar 2025 13:14