Rental properties 2023

A guide on how to treat rental income and expenses, including how to treat many residential rental property assets and items.

General guidance
Information to help rental property owners.

Rental income
Rental and rental-related income to declare and how to divide income and expenses when the rental property is co-owned.

Rental expenses
Rental expenses you can and can't claim a deduction for and whether you can claim immediately or over several years.

Keeping rental property records
Records you need to keep for your rental property income and expenses and how long to keep them.

Worksheet – work out your net rental income or loss
Worksheet example and copy for you to work out your net rental income or loss.

Other tax considerations
Other tax issues to consider for your rental property, such as capital gains tax, GST and PAYG instalments.

Residential rental property assets
Rental property assets and items, definitions and the treatment of items as depreciating assets or capital works.