Show download pdf controls
  • Prepaid expenses



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

    End of attention

    If you prepay a rental property expense, such as insurance or interest on money borrowed, that covers a period of 12 months or less and the period ends on or before 30 June 2020, you can claim an immediate deduction. If the expense covers a period that extends beyond 30 June 2020, your deduction might have to be spread over two or more years under the prepayment rules if the expense is $1,000 or more.

    For more information, see Deductions for prepaid expenses.

      Last modified: 29 Aug 2019QC 59153