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Last updated 3 December 2006

The following completed worksheet is an example of how to calculate your net rental income or loss. Some of the figures have been drawn from the examples in this publication, others have been included for illustrative purposes.

Example: Rental property worksheet


Rental income


Other rental related income


Gross rent



Advertising for tenants


Body corporate fees and charges


Borrowing expenses




Council rates


Deductions for decline in value


Gardening/lawn mowing (see note)


Insurance (see note)


Interest on loans


Land tax


Legal expenses


Pest control


Property agent fees/commission


Repairs and maintenance


Capital works deductions


Stationery, telephone and postage


Travel expenses


Water charges


Sundry rental expenses


Total expenses


Net rental loss ($20,431 − $9,300)


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

End of example