Quick tips to make tax time easy for property investors

1. Have your property manager pay all of your property expenses

a. Most of them will include this service in the management fee they charge you

b. They can then directly claim any water or other expenses that should be claimed back from your tenants

c. Insurance, rates and strata bills should also be included

Then, their annual statement which summarises all of these expenses might be sufficient to take to your accountant rather than find all of these yourself at tax time.

2. The other statement you need to take with you is your annual statement from your lender which will have the annual interest summary

Two documents to summarise your investment property – how easy is that?!

#propertyinvestment #mortgagebroker #taxtime

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Two Red Shoes Copyright © 2020 All rights reserved. Call on 02 9002 0380, 0404 494 929, email us  or 'old school' fax 02 9002 0381

Jarrett Group Pty Ltd atf Jarrett Group Discretionary Trust trading as Two Red Shoes hold Australian Credit Licence No: 428614 and are members of an external dispute resolution scheme. Details of our complaint resolution process can be found here or please see our credit guide. All information contained on this site is general information only, and does not take into account your particular financial situation or needs. You should consider your personal objectives, financial situation along with the recommendations of your trusted advisors.

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