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Expenses you can claim for your Rental Property - Infographic

If you own a Commercial rental Property you can claim the following list of expenses as a tax deduction as long as the expenses were incurred during the period your property was rented or available for rent.

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Click to see larger -Expenses you can Claim on your Commercial rental Property Infographic

You can only claim a tax deduction for these expenses if you actually incur them and they are not paid by the tenant.

Property

  • cleaning;
  • gardening, landscaping  and lawn mowing;
  • repairs and maintenance;
  • appliance servicing costs;
  • body corporate fees and charges;
  • insurances (building, contents, public liability);
  • pest control;

AdministrationDownload Commercial Lease Agreement Template

  • stationery and postage;
  • telephone calls and rental;
  • property agents fees and commissions;
  • secretarial, bookkeeping and accountancy fees;
  • advertising for tenants;
  • travel and car expenses;

Government

  • water rates;
  • land tax;
  • council rates;

Legal

  • body corporate fees and charges;
  • lease document expenses;
  • legal expenses;
  • quantity surveyor’s fees;

Utilities

  • electricity and gas;
  • in-house audio/video service charges;
  • security system / patrol fees;

Bank

  • bank charges;
  • interest on loans;
  • mortgage discharge expenses;

You cannot claim…

  • acquisition and disposal costs of the property;
  • expenses not actually incurred by you, for example, water or electricity charges paid by the tenants;
  • expenses that are not related to the rental of a property

What records need to be kept?

Keep a copy of all receipts. Make sure they are in English and include the:

  • details of the supplier;
  • amount of the expense;
  • description of the goods or services;
  • date the expense was incurred;
  • date of the document;

Other Commercial Leasing Resources

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