Rental-related income



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

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You must include rental bond money as income if you become entitled to retain it, for instance, because a tenant defaulted on the rent, or because of damage to your rental property requiring repairs or maintenance.

If you received an insurance payout, there may be situations where the payout needs to be included as income, for example, if you received an insurance payment to compensate you for lost rent.

If you received a letting or booking fee, you must include this as part of your rental income.

Associated payments include all amounts you receive, or become entitled to, as part of the normal, repetitive and recurrent activities through which you intend to generate profit from the use of your rental property.

If you received a reimbursement or recoupment for deductible expenditure, you may have to include an amount as income. For example, if you received:

You must include as rental income any assessable amounts relating to limited recourse debt arrangements involving your rental property. For more information, see Limited recourse debt arrangements and see the Guide to depreciating assets 2011.

Last modified: 08 Sep 2011QC 28002