LJ Hooker

A Seasoned Property Investor’s Guide to Maximise Returns p. 8 01 2 Am I claiming all the right tax deductions? A key bonus of owning an investment is the ability to claim your expenses for the property on your tax return, so ensuring you’re maximising the potential return amount at the end of each financial year should be a priority for both you and your accountant. Basic information to provide to your accountant Your accountant will generally always require some basic information, including: • the address • the number of days during the tax year that the property was available for rent • how many days it was rented • the income you’ve earned from the property over the year, including anything you’ve sold from the property • a comprehensive list of all the expenses related to the property, such as anything you’ve bought for the property. Here’s a deep dive into the expense information you’ll need to provide your accountant.