ATO: Rental properties - claiming repairs and maintenance expenses

Discussion in 'Accounting & Tax' started by Simon Hampel, 31st Mar, 2009.

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  1. Simon Hampel

    Simon Hampel Founder Staff Member

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    Simon Hampel, 31st Mar, 2009
    #1
  2. Chris.R_WA

    Chris.R_WA Well-Known Member

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    Interesting Sim, thanks.

    I had never heard this one before:

    "If you receive income other than rent for your rental property (for example, an insurance payout for the cost of repairs), you must include this amount as income on your tax return."

    Not that is has applied to any of my IP's so far...but good to know for future (passing audits and all that :eek:)

    Cheers, Chris
     
    Chris.R_WA, 31st Mar, 2009
    #2