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What do you want to do?
Lodge your tax return
Work out your tax
Make a payment
Get a tax file number or update your details
Check your superannuation
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Find a form or publication
Fix a problem
Get help
Your situation
Where do I start?
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Study
Investment & superannuation
Retirement
Youth
Families
Travelling/international
High wealth individuals
Other situations
Tax topics A-Z
A-I
M-Z
List all
Law & rulings
ATO Legal Database
Rulings
Compliance issues
Our Compliance Program
How we make it easier for you to comply
Tax planning & schemes
Tax evasion & crime
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Rental properties 2002
Warning: This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
Table Of Contents
About this publication
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How self-assessment affects most individuals
What are your responsibilities?
What if you lodge an incorrect tax return?
Initiatives to complement self-assessment
Do you need to ask for a private ruling?
Publications
Rental income
Rental related income
Multiple interests in property
Co-owners of an investment property
Partners at general law
Capital gains tax
Negative gearing
Property not located in Australia
Pay As You Go (PAYG) instalments
Goods and services tax (GST)
Rental expenses
Acquisition and disposal costs
Body corporate fees and charges
Borrowing expenses
Mortgage discharge expenses
Deduction for decline in value of depreciating assets (previously known as depreciation)
How do you work out your deduction?
Effective life
Extracts from Taxation Ruling IT 2685 and Taxation Ruling TR 2000/ 18 showing changes in the effective lives of some commonly used items in rental properties
Replacements
Immediate deduction for depreciating asset costing $300 or less
Low-value pooling
What happens if you no longer hold or use a depreciating asset?
Purchase and valuation of second-hand assets
Interest
Legal expenses
Repairs
Capital works (special building write-off) deductions
Amount of deduction
Table 1
Table 2
Construction expenditure that can be claimed
Changes in building ownership
Estimating construction costs
Deductions affecting capital gains tax cost base calculations
Cost base
Reduced cost base
Limited recourse debt arrangements
Prepaid expenses
Lease document expenses
Travel expenses
Apportionment of travel expenses
Apportionment of other expenses
Non-commercial rental
Keeping records
Completing a rental property worksheet
Lodge your tax return over the Internet using e-tax
Last Modified: Friday, 18 July 2008
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