Rental properties 2009-10

Worksheet

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

The following completed worksheet is an example of how to calculate your net rental income or loss. Some of the figures have been drawn from the examples in this publication; others have been included for illustrative purposes. A blank worksheet is also provided for you to work out your own net rental income or loss.

Example 22: Rental property worksheet

	$
Income
Rental income	8,500
Other rental related income	800
Gross rent	9,300
Expenses
Advertising for tenants	48
Body corporate fees and charges	500
Borrowing expenses	259
Cleaning	100
Council rates	700
Deductions for decline in value	796
Gardening/lawn mowing	350
Insurance	495
Interest on loan(s)	11,475
Land tax	200
Legal expenses	150
Pest control	50
Property agent fees/commission	800
Repairs and maintenance	1,000
Capital works deductions	2,745
Stationery, telephone and postage	80
Travel expenses	436
Water charges	350
Sundry rental expenses	95
Total expenses	20,629
Net rental income or loss ($9,300 - $20,629)	-11,329
Note: You cannot claim for these items if the expenditure is already included in body corporate fees and charges.

Rental property worksheet

	$
Income
Rental income
Other rental related income
Gross rent
Expenses
Advertising for tenants
Body corporate fees and charges
Borrowing expenses
Cleaning
Council rates
Deductions for decline in value
Gardening/lawn mowing
Insurance
Interest on loan(s)
Land tax
Legal expenses
Pest control
Property agent fees/commission
Repairs and maintenance
Capital works deductions
Stationery, telephone and postage
Travel expenses
Water charges
Sundry rental expenses
Total expenses
Net rental income or loss (Gross rent less total expenses)
Note: You cannot claim for these items if the expenditure is already included in body corporate fees and charges.

Last modified: 29 Jun 2010QC 22885