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Completing a rental property worksheet

Last updated 3 December 2005

In the following example of a completed worksheet, some of the figures have been drawn from the examples in this publication. Others have been included for illustrative purposes.

Example: 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

$260

Cleaning

$100

Council rates

$700

Deductions for decline in value (depreciation)

$597

Gardening/ lawn mowing (see note)

$350

Insurance (see note)

$495

Interest on loans

$11,475

Land tax

$200

Legal expenses

$150

Pest control

$50

Property agent fees/commission

$800

Repairs and maintenance

$1,000

Capital works deductions (formerly special building write-off)

$2,745

Stationery, telephone and postage

$80

Travel expenses

$436

Water charges

$350

Sundry rental expenses

$95

Total expenses

$20,431

Net rental loss ($20,431 − $9,300)

$11,131

Note: You can't claim for these items if the expenditure is already included in body corporate fees and charges.

End of example

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