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Rental properties 2004–05

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

Last updated 1 January 2007

This publication can be downloaded in Portable Document Format (PDF): Rental properties 2004–05 (PDF 323KB)This link will download a file.


Rental properties 2005 will help owners of rental properties in Australia determine:

  • what expenses are allowable deductions
  • what records you need to keep, and
  • what you need to know when you sell your rental property.

Many of the expenses associated with your rental property will be deductible. We explain:

  • how to apportion your expenses if only part of them are tax deductible
  • what expenses are not deductible
  • when you can claim those expenses that are deductible – some you can claim in the year they are incurred, others must be claimed over a number of years, including decline in value of depreciating assets and capital works deductions.

When you own a rental property, you may also need to know about capital gains and goods and services taxes, negative gearing, pay as you go instalments and the effects of the General value shifting regime – who it affects. This guide explains these concepts.