Investment Property Tax Return Checklist | Loyal Bright Accountants

Ready for your tax return? To ensure we maximize your negative gearing deductions and secure your highest possible refund, please gather the following documents before your consultation. You can tick them off directly on this page or print the list to include in your folder.

Property Document Checklist

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1. Rental Income Records

Real Estate Agent's Annual Summary If managed by an agent, request their End of Financial Year (EOFY) statement covering 1 July to 30 June.

Private Rental Income Records If self-managed, provide bank statements or a ledger showing all rent received.

2. Property Expenses (Not included in Agent's Summary)

Loan Interest Statements Annual statement from your bank showing total interest paid (Note: principal repayments are not deductible).

Council & Water Rates Invoices paid during the year (skip if your real estate agent paid these on your behalf).

Strata / Body Corporate Fees Include regular administration fund fees and any Special Levies raised.

Landlord & Building Insurance Certificates of currency or invoices for premiums paid.

Land Tax Assessment If your property triggered state land tax, provide the assessment notice.

Out-of-Pocket Repairs & Maintenance Tax invoices for plumbers, electricians, or cleaning supplies you paid for directly.

3. Depreciation & Major Improvements

Tax Depreciation Schedule The professional report prepared by a Quantity Surveyor. This is crucial for large tax refunds!

Receipts for New Appliances or Furniture Invoices for any new air-conditioners, ovens, carpets, or blinds purchased this year.

4. Buying or Selling this Year (If Applicable)

Contract of Sale (Purchase or Sale) Must show the Contract Date and Settlement Date.

Settlement Statement The breakdown provided by your conveyancer or solicitor upon settlement.

Buying/Selling Expenses Receipts for Stamp Duty, legal fees, agent commissions, and advertising. Essential for Capital Gains Tax (CGT) calculation.

Market Valuation Report (If converting PPOR to Rental) If this property was your main residence and you rented it out for the first time this year, provide a valuation report dated on the first day it was available for rent.

Note: Not every item will apply to your specific situation. Please gather the documents relevant to you. If you have any questions about a specific document, feel free to contact Loyal Bright Accountants.

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