New investor - things I need to do and things I can claim on tax

Discussion in 'Property Management' started by Drekko, 9th Feb, 2018.

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  1. Drekko

    Drekko Well-Known Member

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    hey guys

    Im trying to do my own checklist to ensure I havent missed anything

    at the moment I have 1 investment property ( going on a 2nd soonish)

    The following things are things I can claim on tax correct?

    House insurance ( building only) -
    depreciation schedule booked - ( the cost of this )
    Landlord insurance ( on the list but have to get)
    Managing the tenants myself ( family friend) - will need this on 2nd property

    Have I missed anything else?
     
    Drekko, 9th Feb, 2018
    #1
  2. Invest_noob

    Invest_noob Well-Known Member

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    Invest_noob, 9th Feb, 2018
    #2
    Redwing and Drekko like this.
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Rates
    Water connections
    Repairs
    Land tax if any
    Interest
    Interest on deposit loan if any
    Tax agent
     
    Terry_w, 9th Feb, 2018
    #3
  4. Angel

    Angel Well-Known Member

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    Smoke alarms
    possibly cleaning and garden maintenance at the commencement of tenancy
     
    Angel, 11th Feb, 2018
    #4
  5. Drekko

    Drekko Well-Known Member

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    sweet thanks guys

    do most accountants know this or do you need to make sure they factor the above points in?
     
    Drekko, 13th Feb, 2018
    #5
  6. Scott No Mates

    Scott No Mates Well-Known Member

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    May be difficult if you don't first have a bond in place.

    What? Do you expect to charge yourself?
     
    Scott No Mates, 14th Feb, 2018
    #6
  7. Drekko

    Drekko Well-Known Member

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    "2nd investment property doesnt exist yet"
     
    Drekko, 14th Feb, 2018
    #7