Expenses for which you may be entitled to an immediate deduction in the income year you incur the expense include:
- advertising for tenants
- bank charges
- body corporate fees and charges
- cleaning
- council rates
- electricity and gas
- annual power guarantee fees
- gardening and lawn mowing
- in-house audio and video service charges
- insurance
- building
- contents
- public liability
- interest on loans
- land tax
- lease document expenses
- preparation
- registration
- stamp duty
- legal expenses (excluding acquisition costs and borrowing costs)
- mortgage discharge expenses
- pest control
- property agents fees and commissions (including prior to the property being available to rent)
- quantity surveyor’s fees
- costs incurred in relocating tenants into temporary accommodation if the property is unfit to occupy for a period of time
- repairs and maintenance
- cost of a defective building works report in connection to repairs and maintenance conducted
- secretarial and bookkeeping fees
- security patrol fees
- servicing costs, for example, servicing a water heater
- stationery and postage
- telephone calls and rental
- tax-related expenses
- travel and car expenses to the extent that they are deductible
- water charges.
You can claim a deduction for these expenses only if you actually incur them and they are not paid by the tenant.
See also