Rental Property Schedule
The supplementary section of your tax return where all rental income and deductions go.
Definition
The Rental Property Schedule is a section of the Australian individual tax return (Item 21 in the supplementary section) where property investors report all rental income and deductions for each property they own. It captures gross rent, advertising costs, body corporate fees, borrowing expenses, cleaning, council rates, depreciation, insurance, interest, land tax, legal fees, pest control, property management fees, repairs, travel (where applicable), water charges, and capital works deductions.
Related reading
Related terms
Negative Gearing
When your property costs exceed rental income — and you claim the loss against other income.
Depreciation Schedule
A report from a quantity surveyor listing every deduction you can claim on a property.
ATO Data Matching
The ATO cross-references your return with bank, real estate, and government data.
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