Property Investment Expenses That Can Be Claimed Immediately

As an investor in residential rental properties, you can generally claim an immediate deduction on a number of expenses related to the management of your property.

The ATO supplies a list of items that you may be able to claim an immediate deduction on including:

• advertising for tenants
• body corporate fees and charges
• council rates
• water charges
• land tax
• cleaning
• gardening and lawn mowing
• pest control
• insurance (building, contents, public liability)
• interest expenses
• property agent’s fees and commission
• repairs and maintenance
• some legal expenses
• travel undertaken to inspect the property, to collect the rent or for maintenance.

The ATO website provides some excellent information and guidelines for property investors.