More information

To get any publication in this guide:

• see Referred publications and rulings, or
• phone 1300 720 092.

Publications

Publications referred to in this guide

• Deductions for prepaid expenses 2017
• Rental expenses to claim
• Guide to capital gains tax 2017
• Guide to depreciating assets 2017 (NAT 1996)
• Individual tax return instructions 2017
• International dealings schedule 2017 (NAT 73345)
• Law Administration Practice Statement (General Administration) PS LA 2006/1 (GA) – Calculating cost base of CGT asset where there is insufficient information to determine any Division 43 capital works deduction
• PAYG withholding variation application
• Private ruling application form (non-tax professionals)
• Taxation Determination TD 2012/1 – Income tax: can Part IVA of the Income Tax Assessment Act 1936 apply to deny a deduction for some, or all, of the interest expense incurred in respect of an 'investment loan interest payment arrangement' of the type described in this Determination?
• Taxation Determination TD 2007/2 – Income tax: should a taxpayer who has incurred a tax loss or made a net capital loss for an income year retain records relevant to the ascertainment of that loss only for the record retention period prescribed under income tax law?
• Taxation Determination TD 2006/31 – Income tax: is a government rebate received by a rental property owner an assessable recoupment under subsection 20-20(3) of the Income Tax Assessment Act 1997, where the owner is not carrying on a property rental business and receives the rebate for the purchase of a depreciating asset (for example, an energy saving appliance) for use in the rental property
• Taxation Determination TD 2005/47 – Income tax: what do the words ‘can deduct’ mean in the context of those provisions in Division 110 of the Income Tax Assessment Act 1997 which reduce the cost base or reduced cost base of a CGT asset by amounts you ‘have deducted or can deduct’, and is there a fixed point in time when this must be determined?
• Taxation Determination TD 1999/42 – Income tax: do the principles set out in Taxation Ruling TR 98/22 apply to line of credit facilities?
• Taxation Ruling TR 2015/3 - Income tax: matters relating to strata title bodies constituted under strata title legislation
• Taxation Ruling TR 2016/1 - Income tax: effective life of depreciating assets (applicable from 1 July 2016)
• Taxation Ruling TR 2015/2 - Income tax: effective life of depreciating assets (applicable from 1 July 2015)
• Taxation Ruling TR 2014/4 - Income tax: effective life of depreciating assets (applicable from 1 July 2014)
• Taxation Ruling TR 2013/4 - Income tax: effective life of depreciating assets (applicable from 1 July 2013)
• Taxation Ruling TR 2012/2 - Income tax: effective life of depreciating assets (applicable from 1 July 2012)
• Taxation Ruling TR 2011/2 - Income tax: effective life of depreciating assets (applicable from 1 July 2011)
• Taxation Ruling TR 2010/2 - Income tax: effective life of depreciating assets (applicable from 1 July 2010)
• Taxation Ruling TR 2009/4 – Income tax: effective life of depreciating assets (applicable from 1 July 2009)
• Taxation Ruling TR 2008/4 – Income tax: effective life of depreciating assets (applicable from 1 July 2008)
• Taxation Ruling TR 2007/3 – Income tax: effective life of depreciating assets (applicable from 1 July 2007)
• Taxation Ruling TR 2006/15 – Income tax: effective life of depreciating assets (applicable from 1 January 2007) (which replaced Taxation Ruling TR 2006/5 – Income tax: effective life of depreciating assets and TR 2000/18 – Income tax: effective life of depreciating assets)
• Taxation Ruling TR 2004/16 – Income tax: plant in residential rental properties
• Taxation Ruling TR 2004/4 – Income tax: deductions for interest incurred prior to the commencement of, or following the cessation of, relevant income earning activities
• Taxation Ruling TR 2000/2 – Income tax: deductibility of interest on moneys drawn down under line of credit facilities and redraw facilities
• Taxation Ruling TR 98/22 – Income tax: the taxation consequences for taxpayers entering into certain linked or split loan facilities
• Taxation Ruling TR 97/25 – Income tax: property development: deduction for capital expenditure on construction of income producing capital works, including buildings and structural improvements
• Taxation Ruling TR 97/23 – Income tax: deductions for repairs
• Taxation Ruling TR 97/11 – Income tax: am I carrying on a business of primary production?
• Taxation Ruling TR 95/25 – Income tax: deductions for interest under section 8-1 of the Income Tax Assessment Act 1997 following FC of T v. Roberts; FC of T v. Smith
• Taxation Ruling TR 94/11 – Income tax: general investment allowance – what is a unit of property?
• Taxation Ruling TR 94/8 – Income tax: whether business is carried on in partnership (including ‘husband and wife’ partnerships)
• Taxation Ruling TR 93/32 – Income tax: rental property – division of net income or loss between co-owners
• Taxation Ruling TR 93/7 – Income tax: whether penalty interest payments are deductible
• Taxation Ruling IT 2423 – Withholding tax: whether rental income constitutes proceeds of business – permanent establishment – deduction for interest
• Taxation Ruling IT 2316 – Income tax: distribution of partnership profits and losses
• Taxation Ruling IT 2167 – Income tax: rental properties – non-economic rental, holiday home, share of residence, etc. cases, family trust cases

This guide explains how to treat rental income and expenses - including how to treat more than 230 residential rental property items. NAT 1729-6.2017.