Tax Return Checklist & Rental Property Schedule Working Paper

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myGov account for Individuals and sole traders

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Having a myGov account allows you to securely and easily access Government services online, all in one place.

You are also able to benefit by receiving messages and correspondence online from the following sources:

  • Medicare
  • Australian Taxation Office
  • Centrelink
  • Child Support
  • National Disability Insurance Scheme

If you already have a myGov account, this has now become the default channel  for the majority of correspondence issued from the ATO.  Once correspondence has been received in your myGov inbox, you will receive an SMS or email notification from myGov and you will then have access to your correspondence immediately.

Messages can include online letters, statements and other types of important information.

Another benefit of a myGov account is that you are able to manage your activity statements and PAYG Instalments from your account.

It is also a simple way for you to update your address and contact details in one place with participating member services.

When and what can I claim for a rental property?

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You can claim rental property expenses for the period that the property is rented or is available for rent (e.g. advertised for rent).

Any expenses incurred outside of this period may be included as part of capital expenses.

Expenses can include:

  • Advertising
  • Bank charges
  • Body corporate fees
  • Borrowing expenses (e.g. loan establishment fees or title search fees – amortised over 5 years if costing $100 or more)
  • Capital works
  • Cleaning
  • Council rates & water
  • Depreciation
  • Gardening
  • Insurance
  • Interest Expense
  • Land tax
  • Pest control
  • Property agent fees
  • Repairs and maintenance (only relating to wear and tear or other damage occurred due to renting out)

Click here for ATO guide on rental income and expenses

How can I work out Motor vehicle deductions for business or work related purposes?

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There are two different methods to work out Motor Vehicle expenses:

  1. Logbook – add up all of your running costs and claim expenses as per business percentage determined. A logbook needs to be kept for 12 consecutive weeks to work out the business percentage.
  2. Cents per km – you can claim up to 5000km without a logbook at a set rate of:  
  • 85c/km from 1 July 2023 for the 2023/24 income year.

Click here for ATO tax deductions for motor vehicle expenses


What can I claim for "Home Office Expenses"?

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Running costs

  • Actual Cost: a diary should be kept for 4 weeks to work out the business proportion and determine the pattern of work-related/business usage for each expense during the year.
  • Alternatively the fixed rate method of 67 cents per hour for internet, phone, electricity, gas, stationary and computer consumable costs can be used for the year.  The special rate of 80c/hr applied from 1st March 2020 to 30th June 2022 due to COVID-19.
  • Diary entries are acceptable for small expenses ($10 or less) totalling no more than $200 for any expenses you cannot get a receipt for.

Home Phone and Internet

  • A diary should be kept to provide sufficient evidence to determine and support the business/work related usage for a 4-week consecutive representative period
  • Alternatively, if the amount claimed is less than $50, the ATO will accept estimates based on 25c/call – from landlines, 75c/call – from mobiles

Occupancy costs

  • Relevant proportions of rent, interest, rates and insurance expenses can be claimed if your home is used as a place of business (excludes employees re work-related purposes). However, it should be noted that the capital gains tax personal residence exemption will be affected and reduced by the proportion of business-related use.
  • For more information submit a request through our contact page and one of our tax specialists we will be in touch!

Click here for ATO tax deductions for working from home expenses

What are the Individual Income Tax Rates?

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The following rates for 2024 – 2025 (Resident)
Taxable income Tax on this income
0 – $18,200 Nil
$18,201 – $45,000 16c for each $1 over $18,200
$45,001 – $135,000 $4,288 plus 30c for each $1 over $45,000
$135,001 – $190,000 $31,288 plus 37c for each $1 over $135,000
$190,001 and over $51,638 plus 45c for each $1 over $180,000

The above rates do not include the:

  • Medicare levy of 2%

Click here for ATO Individual Income Tax Rates

BAS Lodgements

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Monthly lodgement obligation  Due date
Activity statement  21st of the following month
Quarterly lodgement obligation  Due date
Quarter 1  July, August and September 28th October 
Quarter 2  October, November and December 28th February
Quarter 3 January, February and March 28th April
Quarter 4  April, May and June 28th July