Residential rental properties and tax

If you rent out property, you need to:

  • keep records right from the start
  • work out what expenses you can claim as deductions
  • declare all rental-related income in your tax return
  • consider the capital gains tax implications if you sell.

How to treat rental income and expenses. See Rental properties 2020. This is
an ATO pdf document. Topics covered, include:

 

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