What to bring for Investment Properties Appointments – MAS Tax Dandenong
Author │ MAS Tax Accountants Dandenong
Delivering services to the Dandenong and surrounding areas, the experts at MAS Tax Dandenong can assist you with managing your Investment Properties. With years of experience and countless hours of research, we can help you to prepare for your appointment and give you the right advice.
The income and expenses from an investment property must be included in your tax return. If you own an investment property, you should remember to bring the following documents along to your tax appointment:
Income:
- Rental statement from real estate agent
- Rental break-down (if the property isn’t managed by an agent)
Expenses:
- Real estate agents management fee (rental statement)
- Interest on loan (Bank statements) & bank charges
- Depreciation schedule
- Body corporate fees and charges
- Insurance
- Council rates notice
- Water rates
- Land tax
- Any repairs/maintenance on the property
- Traveling cost (car logbook or diary note if under 5000 KMs)
- Any legal costs of maintaining the property
- Any accounting costs of maintaining the property
- Any other rental property expenses
Please bring along any investment property related expense that you think could be a deduction and we will advise you whether that is claimable or not. You do not need to bring along receipts for expenses, as long as you have them for your reference and you can tell us how much the expense is. Please also bring in your last year’s return if you have it available.
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