Please ensure you keep accurate records of the following information for your rental property for tax purposes:
- Rental Income
- Council Rates
- Land Tax
- Water Charges
- Repairs & Maintenance
- Insurance Premiums
- Interest Paid on Investment Loan
If you have sold your rental property, you will also need to keep a copy of the Settlement Statement in order to calculate the capital gain.
Looking to Buy an Investment Property?
We recommend contacting Alison Demeyer from Finance Designs before you do anything else. Alison is a mortgage broker who shares our office space, and she has a wealth of expertise to help you achieve your property dreams!
Feel free to email Alison (email@example.com) or visit her Facebook page.