Tax Deduction Checklist - Rental Property

Item Deductible Non- Deductible
Accounting Fees Yes
Advertising Yes
Agent Fees & Commissions Yes
Bad Debts Yes
Boarder's Costs Yes
Body Corporate Fees Yes
Borrowing Expenses Yes
Building & Structural Improvements Yes
Cleaning Yes
Commissions & Management Fees Yes
Depreciation Yes
Early Termination of Lease Payments No
Electricity & Connection Costs Yes
Eviction proceedings against tenants No
Bank Charges Yes
Gardening Yes
Gas Yes
Head Rental* Yes
Insurance Yes
Interest Yes
Land Tax Yes
Lease Incentives Yes
Lease Premium No
Lease Surrender Payments No
Legal Fees not associated with eviction Yes
Mortgage Insurance Yes
Municipal Rates & Taxes Yes
Office Supplies Yes
Postage Yes
Repairs excluding initial repairs Yes
Security Yes
Solicitor Disbursements Yes
Telephone Yes
Travel Yes
Water Yes
Pre purchase travel expenses for properties not purchased No

* Where landlord is lessee rather than owner and is sub-leasing the property to another rent-paying tenant.

If you have any questions regarding tax deductions, for a small fee of $49.50 you will get our professional opinion on the concerns you may have.

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