The ATO (Australian Tax Office) produce a guide for property investors each year.
Rental properties 2016 will help you, as an owner of rental property in Australia, determine:
- which rental income is assessable for tax purposes
- which expenses are allowable deductions
- which records you need to keep
- what you need to know when you sell your rental property.
The guide explains:
- how to apportion your expenses if only part of them are tax deductible
- what expenses are not deductible
- when you can claim those expenses that are deductible
A PDF copy of the guide can be downloaded from the ATO website at https://www.ato.gov.au/Forms/Rental-properties-2016/
