Income Tax On Rental Property

Rental Property Income Tax Advice in Australia

Do you have a residential investment property or a multi-million dollar commercial property which you get income from? The assessable income and capital gains/loss that you receive from a rental property has significant tax implications which you need to be mindful of, especially at the end of every financial year when it comes time to file your rental property tax return. At Lotus Smart, we can help assess your rental property income tax in Australia. Our rental property accountant will ensure you pay the right amount and claim any deductions to which you’re entitled.

How We Can Help

Whether you own a residential or commercial property, it’s important to keep tax on rental property in mind, including how it affects your tax obligations such as GST, PAYG instalments and stamp duty, among others. Choosing the right legal structure can bolster your tax planning and asset protection measures, saving you money in the long run. With experienced accountants for landlords, the team at Lotus Smart are in a position to help you with all areas relating to rental income accounting, including filing rental income tax forms, claiming rental property tax deductions, and more.

Negative Gearing

A rental property is negatively geared when expenditure on the property exceeds the rental income. This will allow you to make significant savings on tax and, consequently, get a higher tax refund. The effectiveness of this tax saving depends on many factors, including the ownership structure, the marginal income tax rate, the structure of your loan, the construction cost of the building, the year of construction, borrowing costs, and more.

The Lotus Smart team in Melbourne, Australia, can analyse these costs very carefully and prepare a budget for you. Our analysis will give you an idea of how much the out of pocket expenses associated with your rental property will be. We’ve assisted hundreds of clients to choose the right investment property so as to maximise the benefit of negative gearing. If you’re asking yourself “who can provide the best assistance with income tax on rental income near me?”, find out how our rental property accountant can help you.

Book a Consultation Today

Are you paying tax on rental income? Do you want to minimise your obligations and maximise your returns? The team at Lotus Smart can provide trusted rental property income tax advice at an affordable cost. Call us or send us an enquiry online to book a meeting with our consultant. Our accountants for landlords can help clients located in:

  • South Melbourne
  • North Melbourne
  • Clayton
  • Blackburn
  • Essendon
  • Bendigo
  • Geelong
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