2008 RENTAL PROPERTIES CHECKLIST: Name:.............................................................................................................................. The Tax Office requires a great deal of information concerning Rental Property Income. Each individual property is to be treated separately on its own schedule. | | | Have you rented out a property at any time during the year? | Yes | No | Was the property available for rent at any time during the year? | Yes | No | If Yes to either question please complete the following questions for each property you rented out during the year. If you rented out more than one property, please copy the questions and answer for each property separately. If No to both questions, please go to Business Income Tax Checklist on Page 14 | |
- Full address of the property:..................................................................................
- Date property first became available for rent:............................................................
- Number of weeks property was rented out in the current year:......................................
If you have purchased a rental property during the year: - Date purchased:.................................................................................................
- Cost:.................................................................................................................
- Attach Solicitors' "Statement of Adjustments" and copy of Schedule attached to the contract, showing the vendor and purchaser details.
Attach documentation | | | Details of rent received / estate agent's statements showing income and expenses. List Details: | | | Body corporate fees, Agent's commission, Letting fees, (if not already provided above) List Details: | | | Bank (Other) Statement of existing loan(s) to purchase the property. List Details: | | | Bank (Other) Statement of new loan(s) to purchase the property. Loan application fees, etc List Details: | | | | | | Amount of bank fees and charges on the account to which you deposit the rent. List Details: | | | Water charges, Council rates and any Land tax paid. List Details: | | | Advertising, postage, stationery, telephone, maintenance, gardening. List Details: | | | Insurance: Building: Attach a copy of the latest insurance renewal showing the coverage and premium Landlord: Attach a copy of the latest insurance renewal showing the coverage and premium Public Liability: Attach a copy of the latest insurance renewal showing the coverage and premium | | | Details of travel associated with the property, for property inspections, maintenance, banking, etc. List Details: | | |
Please provide a list of any depreciable items purchased for the rental property during the year: examples are new hot water services, oven, cooktop etc. Attach extra pages if necessary. IMPORTANT: These Checklists are not exhaustive. Readers should not act solely on the basis of this material. Items herein are general indications only and do not cover every item of detail which may be required in some cases. Changes in legislation may also quickly occur. We therefore recommend that you refer to the 2008 Tax Pack published by the Australian Taxation Office for a complete guide. Alternatively, for further information contact Simmons & Associates Pty Ltd: Michael Simmons BEc FCPA ( FPS) FTIA Chetan Rele CPA Christine Teng BComm (Acc) CPA Tel (03) 9887 9377 Fax (03) 9887 9615 e-mail: info@simmo.com.au
6th-February-2009 | 