Rental income and expenses
Rental income is generally assessable and many ownership expenses may be deductible subject to tax law and the way the property is used. Timing and classification matter.
Interest
Interest deductibility depends on the use of borrowed funds rather than simply which property secures the loan. Mixed-purpose loans can complicate record keeping.
Repairs vs capital works
Immediate deductions and capital allowances can be treated differently. Renovation and improvement costs should be documented carefully.
Depreciation
Eligible building works and depreciating assets can have different treatment. A quantity surveyor's depreciation schedule may be relevant in some cases.
Capital gains tax
Acquisition, ownership and sale records can affect the cost base and eventual gain. Major CGT reforms legislated in 2026 begin applying to gains accruing from 1 July 2027, subject to transition rules.
Keep records from day one
Contracts, settlement statements, invoices, depreciation schedules, loan records, ownership expenses and sale costs can all become important years later.