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  • Completing a rental property worksheet

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    In the following example of a completed worksheet, some of the figures have been drawn from the examples in this publication. Others have been included for illustrative purposes.

    Example

    Income

    Item

    Amount

    Rental income

    $8,500

    Other rental related income

    $800

    Gross rent

    $9,300

    Expenses

    Item

    Amount

    Advertising for tenants

    $48

    Body corporate fees and charges

    $500

    Borrowing expenses

    $260

    Cleaning

    $100

    Council rates

    $700

    Depreciation on plant

    $1,641

    Gardening/lawn mowing (see note)

    $350

    Insurance (see note)

    $495

    Interest on loans

    $11,475

    Land tax

    $200

    Legal expenses

    $150

    Pest control

    $50

    Property agent fees/commission

    $800

    Repairs and maintenance

    $1,000

    Capital works deduction (special building write-off)

    $2,745

    Stationery, telephone and postage

    $80

    Travel expenses

    $436

    Water charges

    $350

    Sundry rental expenses

    $95

    Total expenses

    $21,475

    Net rental loss ($21,475 − $9,300)

    $12,175

    Note: You can't claim for these items if the expenditure is already included in body corporate fees and charges.

    End of example
    Last modified: 28 Jul 2003QC 16187