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Keeping rental property records

Last updated 9 August 2023

Keep records of both income and expenses relating to your rental property.

Records of rental expenses must be in English, or be readily translatable into English, and include the:

  • name of the supplier
  • amount of the expense
  • nature of the goods or services
  • date the expense was incurred
  • date of the document.

If a document does not show the payment date, use independent evidence, such as a bank statement, to show the date the expense was incurred.

Keep records of your rental income and expenses for 5 years from 31 October or, if you lodge later, for 5 years from the date you lodge your tax return. If at the end of this period you are in a dispute with us that relates to your rental property, keep the relevant records until the dispute is resolved.

Do not send these records in with your tax return. Keep them in case we ask to see them.

The following list provides some examples of records you should keep to make it easier to complete your tax return:

  • loan documents
  • receipts for expenses, including repairs, maintenance, insurance and purchases of depreciating assets
  • land tax assessments
  • credit card records
  • tenant leases
  • bank statements
  • rent records from managing agents.

Continue to: Worksheet – work out your net rental income or loss