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BRISBANE ACCOUNTANTS / MORAYFIELD ACCOUNTANTS
RENTAL PROPERTIES
30 June 2011
Rental Properties Tax Schedule
Address
Date of Purchase
Amount of purchase
Rental periods
Rental Income
Rent received
Government rebates
Insurance refunds
Rental Expenses
Advertising
Body corporate fees
Borrowing expenses
Loan set up fees
Cleaning
Rates
Depreciation for plant
Gardening
Insurance
Interest
Land Tax
Legal Fees
Pest control
Property agent’s commissions
Repairs
Depreciation for capital
Stationery, telephone and postage
Travel to inspect the property
Water rates
Sundry
Most of this information can be found in your settlement letter
and your property real estate agent’s annual management report
Capital Gains Tax for Rental Properties
Cost Base of Rental Properties
Purchase price
Stamp Duty
Legal fees on purchase
Improvements and renovations
Salesmen’s commissions
Legals fees on sale
Advertising on sale
The Capital Gain is the difference between the selling
price and the cost base.
Most of this information can be found on the settlement
statements.
You may receive a capital gains tax exemption if you have ceased
to reside in your property for up to 6 years after you have
left.
Where you have ceased to reside in your rental property and
bought another principal place of residence the cost base will
be the market value on the date that you left plus your selling
expenses and improvements.
Disclaimer
The information provided in the above documents is not intended
to be, nor should it be construed as tax advice. Any specific
recommendation for a client can only be done after their
individual circumstances have been determined by David Douglas
Accountants.