Repairs vs Improvements: Rental Property Tax Rules 2026 Rental property repairs may be deductible straight away if they fix damage, wear or deterioration from renting out the property. Improvements are different. Improvements usually make the property better, add something new, replace something larger, or form part of a capital upgrade. These costs may need to be claimed over time instea
Rental Property Deductions 2026: What Can You Claim? Rental property owners may be able to claim expenses that relate to earning rental income. Common rental property deductions can include loan interest, council rates, water rates, landlord insurance, property management fees, repairs, maintenance, body corporate fees and certain borrowing or depreciation costs. But there are rules. Y
Can I Claim Interest on My Rental Property Loan? Yes, you may be able to claim interest on a rental property loan. But only where the borrowed money was used for the rental property or rental income-producing purpose. That is the key point. The bank might call it an investment loan. You might call it the rental loan. Your spreadsheet might call it “house loan thing”. T
Do I Have to Declare Rental Income in 2026? Yes. If you received rental income during the 2026 financial year, you generally need to declare it in your tax return. That includes rent paid directly to you. It also includes rent paid to your property manager or agent on your behalf. In other words, the income does not become invisible just because the agent touched it first. Nice try.
Rental Property Tax Return 2026: Complete Guide If you owned a rental property in 2026, you generally need to include the rental income in your tax return. You may also be able to claim rental property expenses, provided the property was rented out or genuinely available for rent, the expense relates to earning rental income, and you keep proper records. That is the tidy version. The r
ABN Tax Return 2026: Complete GoTax Guide Quick answer If you earned income through an ABN in 2026, you generally need to include that income in your tax return. You may also be able to claim business-related deductions, provided the expenses relate to earning that income, private use is excluded, and you keep proper records. That is the simple version. The real-life version usually
ABN Tax Return Mistakes That Cost Refunds Quick answer ABN tax return mistakes can reduce your refund, delay your return, create a tax bill, or attract ATO questions. The most common mistakes are usually simple: not declaring all ABN income claiming private expenses guessing deductions not keeping records claiming car expenses incorrectly g
Can I Claim My Car With an ABN? Quick answer Yes, you may be able to claim car expenses with an ABN. But only where the car is used for genuine business or income-producing travel. Having an ABN does not automatically make your car deductible. That would be lovely. It would also be wrong. If you use your car for ABN work, contractor jobs, client visits, delivery driving, rides
Sole Trader Expenses: Business vs Private Use Quick answer Sole traders can generally claim expenses that relate to earning business income. But private expenses are not deductible. If an expense is partly business and partly private, you usually need to claim only the business-use portion. That sounds simple. Then real life arrives with one phone, one car, one laptop, one home i
Home Office Claims for ABN Workers Quick answer ABN workers may be able to claim home office expenses if they work from home to earn business or contractor income. But you can only claim the business-related part. Private household costs must be excluded. That means you need to separate: business use private use household use running expenses