You can use this checklist yourself, or use it to review the performance of your current accountant.

While this list is not comprehensive for a passive investor, - it is a good starting point.

Of course at GRA we take steps to guide you through the essentials (like claimable expenses) as part of our service.

List of Standard Expenses in Rental Return

a. Accounting fees

b. Body corporate fees

c. Depreciation, including chattel valuations

d. Insurance

e. Interest, including any interest borrowed outside of the property that might be deductible

f. Interest rate break cost fees incurred

g. Home office expense claim ( a percentage of your home expenses, based on the ratio of the size of your home office as a percentage of your home)

h. Property management fees

i. Repairs and maintenance

j. Rates

k. Telecommunication costs, including 50% of your home line and tools related to your property, plus a potion of your mobile phones.

l. Travel costs to your vehicle.

m. Telecommunication costs related to your properties

n. Valuation fees, relating to financing

o. Vehicle expenses, by log book with shareholder reimbursement for small investors, or for larger property people by direct vehicle ownership in the LAQC with restrictive use arrangements to eliminate fringe benefit tax obligations.

p. Water rates

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