What Rental Property Tax Deductions Can I Claim on my Investment Property?

Rental Property Tax Deductions

Anyone who owns investment property will be wanting to know what rental property tax deductions they can claim.  When it comes to your investment property, of course you want to maximise your return. The best thing you can do is plan ahead and know what you can claim on tax and what you can’t. Keeping good records will make it easier for you when tax time comes around. So keep a checklist and with everything itemised to make the end of the financial year fuss free!

Here’s a handy checklist to help you out. It’s important to note that the expenses must be from when the property was rented or available to rent.  In addition, the expenses must have been paid by you, as the owner, and not the tenant.

Property expenses

  • Cleaning
  • Landscaping/gardening/mowing
  • Maintenance and repairs
  • Servicing costs (such an air conditioner)
  • Body corporate fees
  • Insurances
  • Pest control


  • Stationery
  • Postage
  • Phone calls and line rental
  • Property agent fees
  • Accountancy fees
  • Advertising fees


  • Water rates (if paid by you)
  • Land tax
  • Council rates


  • Lease document expenses
  • Legal expenses
  • Quantity surveyor’s fees


  • Electricity and gas
  • In-house audio/video service charges
  • Security system


  • Bank charges
  • Interest on loans
  • Mortgage discharge expenses

Rental Property Tax Deductions for your Investment Property

Make sure you keep a receipt of each transaction related to your investment property.  This will help to ensure you can claim all rental property tax deductions that are valid.  Be sure to check that the receipt includes: 

  • details of the supplier,
  • cost,
  • date and
  • description
  • for each item that you intend to claim.

Providing these to your accountant at tax time will make the whole process run smoothly. Also, if you’re unsure if a product or service is tax deductible, keep a record and receipt anyway.  Your property-wise accountant will be able to advise you.

If this checklist has been  helpful for you, you may benefit from reading our more detailed article on Investment Property Tax DeductionsCLICK HERE to go there now. If you own an investment property it is always a good idea to seek external advice. A qualified accountant, who actually owns investment property themselves, is a great person to have on your advisory team!

*Disclaimer: The information in this article is of a general nature only and should not be relied upon as advice.  You should seek professional advice for your particular circumstances before entering into any transaction. 

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