This comprehensive course delves into the intricacies of managing rental property taxes and finances. Participants will learn about allowable deductions for rental properties, tax laws and regulations, the pros and cons of hiring a property manager, and the advantages and risks of negative gearing.

The course starts with a detailed overview of deductible expenses related to rental properties, including interest on property loans, council and water rates, property management fees, insurance, repairs and maintenance, depreciation of assets, personal expenses, and capital expenses over $300. Participants will also learn about expenses that cannot be claimed and the importance of accurate record-keeping.

The course also covers tax laws and regulations, emphasizing the importance of the Nexus principle, which requires a direct relationship between income and deductions claimed by landlords. Participants will learn about capital gains and losses on rental properties, how to apportion expenses appropriately, and how to keep a detailed logbook to make deductible claims. P

articipants will also explore the implications of refinancing and using equity in rental property financing. The course clarifies that interest on the loan can still be claimed when refinancing, but borrowing costs can only be claimed over five years. Additionally, home equity loans and lines of credit are still tax-deductible if used for rental property improvements, but principal components are not. 

Finally, the course covers travel expense prohibitions for rental property owners and the depreciation of rental property assets.