Tax Return Information Checklist for Rental Properties
If you have received rental income during the Financial Year, could you please provide the following information for each rental property listed separately.
Please refer to the ATO Rental Properties Information website for more details.
- Owners of property and percentage of ownership. Only required if not provided in prior years.
- If Property Purchased during the financial year, please provide the purchase contract and settlement statement
- Summary of Rent Received. Copies of all agents’ statements and summaries if managed by an agent on your behalf
- Summary of Rental Property Expenditure. These expenses include all payments in respect of advertising, repairs and maintenance, rates, insurance, gardening, cleaning, body corporate levies, agent commissions, etc.
- Interest Charged on Loans relating to rental properties
- Details of Capital Expenditure, including date expenditure incurred, the nature and amount for such things as structural building additions, extensions and/or improvements, equipment and furniture
- Cost Incurred in Administering Rental Property including travel expenses incurred and kilometers traveled to make property inspections
- Details of any new borrowings from banks or other financial institutions, including establishment fees and borrowing costs
- Advise number of weeks the property was available for rent and dates it was rented for, if not the full year
If the property sold during the financial year, please provide the purchase contract and settlement statement.