You can generally claim expenses that relate to earning your rental income. This may include rates, insurance, property management fees, repairs and maintenance, accounting fees and qualifying mortgage interest.Some costs are treated differently - particularly improvements, capital expenses and costs with a private portion. There are also some extra's that some people can claim, like chattels depreciation and travel. We’ll make sure your rental expenses are treated correctly and you’re claiming the deductions you’re entitled to.

Generally, yes. From 1 April 2025, 100% of qualifying interest can be deductible for residential rental properties, provided the normal deductibility rules are met.It’s not simply about which property the mortgage is secured against (despite popular belief), it's what the borrowed money was actually used for that matters. If your lending has been refinanced, restructured or mixed with private borrowing, we can help work out the deductible portion.

Yes. Many separate chattels in a residential rental property can be depreciated, including items such as carpets, curtains, blinds, appliances and furniture.The rules around what is a depreciable chattel versus part of the building can get a little tricky. If you’ve recently purchased a rental property, identifying the chattels correctly can make a worthwhile difference to your tax deductions over time so it's important to get in touch quickly!

If your residential rental expenses are higher than your rental income, the excess deductions are generally ring-fenced. This means they usually can’t be used to reduce tax on other income such as your salary or wages.Instead, they’re generally carried forward and can be used against residential rental income in future years, subject to the rental loss rules.

If you don’t have a tax agent or an approved extension, your income tax return is generally due 7 July following the end of the tax year.Clients linked to a tax agent will generally have an extension of time, which can extend the filing deadline to 31 March of the following year, provided the extension remains available.

Talk to us before you restructure your lending or move things around if you can.Turning your existing home into a rental can raise questions around mortgage interest, ownership, chattels and which costs will be deductible. Getting advice before you make changes can be much easier than trying to fix things afterwards.We can figure out the best way to own the old house, it may require a restructure of ownership to get the best tax deductions, but it has to be done before it's rented out and ideally all done around the same time as the new house purchase.