Mastering Rental Property Taxes and Finances: Strategies for Deductions, Compliance, and Long-Term Success
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.
Partner | Link Accounting & Business Solutions
Rebecka is one of the Partners at Link and specialises in Taxation and Business Development. She started her career in accounting in 2007 whilst she was still studying. She now manages the accounting needs for over 70 small to medium business clients. Bec is passionate about building long lasting relationships with her clients and helping them achieve their financial goals. Bec graduated with distinctions from Curtin University with a Bachelor of Commerce majoring in Accounting & Finance. She is a registered Tax Agent and a qualified Chartered Accountant. She has recently gone back to Curtin University – but to teach Accounting instead! Bec enjoys a casual wine on the weekend with friends and hanging with her fur child, Alfred.
Podcast Host | LearnFormula
Sports commentator and TV host. Winner of 2018 and 2020 Asian Television Awards (Asian Emmy) for Best Sports Presenter / Commentator. Host and commentator of One Championship, Asia's largest sports media property, broadcast to 154+ countries, Nielsen rated 80+million viewers, Tubular analysis 5.4bn social media views (fourth highest in the world). Olympic Games commentator. Commonwealth Games commentator. FIFA World Cup correspondent. Victoria Premier League Soccer (football) commentator FUTSAL OZ Series Commentator Former host and commentator on AXS TV Network USA. Host of CableFax Award-nominated interview show 'The Voice Versus'. Best-selling author and award-winning writer. Radio host. Commentated on networks including Amazon Prime, BeInSport, NBC, CBS, SyFy, Canal+, Spike, EuroSport, ABS-CBN, Star Sports Select, Fox Sports, Fox 8, Sky, TVNZ, Thairath 32, TV3, Main Event. College Lecturer and public speaker.
