Rental Property Checklist
You'll need to provide the following information when you see your accountant
Income
- Real estate annual statement
- Any other income received
Expenses
- Loan interest - note that interest is only tax deductible if the $ were ‘used’ to purchase / renovate the rental property
- Council rates
- Water rates
- Insurance
- Repairs - itemised list as some repairs may be capital and depreciatid
- Bank fees
- Depreciation – please provide a copy of the depreciation schedule
Other
- who owns the property (refer to the title)
- was it rented for the full year
- was rent charged at market rates
- was the loan re-negotiated during the year
click here for our excel worksheet
 I21-Rental-Property-Checklist.pdf (81kB) |