Income Tax

Income Tax on Investment Property Rentals

When looking at investing in property there are three components that will be looked at in terms of income tax implications and your tax return:

    Tax Deductions prior to the property becoming income producing

    •Rental Schedule when property is income producing

    Capital Gains Tax (CGT) Schedule when property is disposed of

Deductions prior to the property becoming income producing

The only deductions a property investor can claim for prior to the property becoming income producing is Interest, so long as the intent is that the property is to be used for income producing purposes.

Rental Schedule when property is income producing

Rental Schedule detailing all income and expenses either paid for or received per property during the financial year.

Capital Gains Tax (CGT) Schedule when property is disposed of

CGT schedule on disposal detailing your purchasing and selling costs not otherwise deductible during ownership.

Have a question regarding regarding income tax on your rental property?


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