Rental properties 2007 will help you, as an owner of rental property in Australia determine:

  • which rental income is assessable for tax purposes
  • which expenses are allowable deductions
  • which records you need to keep, and
  • what you need to know when you sell your rental property.

Many of the expenses associated with rental properties will be deductible. This guide explains:

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

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. This guide explains these at Other tax considerations.

What's new



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

End of attention

For depreciating assets you started to hold on or after 10 May 2006, you will generally use a new rate of 200% when calculating decline in value deductions using the diminishing value method.

Publications and services

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Last modified: 01 May 2008QC 27891