2012 Rental Properties Guide Released

Investors are now able to get the most out of their tax return as a result of new information recently released by the Australian Taxation Office.

The ATO’s official Rental Properties Guide 2011 provides information to help property investors and those in the real estate industry with their tax returns this year.

The 44-page document explains a number of issues including which records to keep, expenses that are allowable deductions and which rental income is assessable for tax purposes.

Shukri Barbara, principal adviser at Property Tax Specialists, told Smart Property Investment that the guide was a “very helpful and practical document,” suggesting that investors take full advantage of the extra resource.

Mr Barbara said that trickier investment details, such as portioning property interest, can cause trouble for investors when it comes to tax time, and so it is important to understand how the ATO deals with these issues.


Some of the topics covered in the 2012 Rental Properties Guide include capital expenses and depreciation, mortgage discharge expenses, capital gains tax, GST, keeping records, PAYG installments and residential property assets.

Mr Barbara emphasized the value of pages 28 to 35 of the document, which lists what depreciation rates should be used, as well as the list of claimable expenses, on page nine.
“The document is very comprehensive,” he said.

“I use it myself to check I’m on the right track with the ATO.”

Page 22 of the document also has a Worksheet that investors can use to organise their return.

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