The Tax Deductions Only Property Accountants Know

Picture this: you are sitting at your desk with a pile of receipts and bank statements, trying to wrap up your taxes. You feel confident you have claimed everything you can. But what if you are wrong? What if there are deductions you don’t even know exist?

For many Australian property owners, this is the reality. By not working with a property accountant, you could be handing over extra money to the tax office without even realising it.

Are You Overpaying Your Taxes?

Let’s be honest—no one enjoys paying taxes. But paying more than you owe? That’s a bitter pill to swallow.

The Australian tax system is no walk in the park. For property investors, it is even more complicated. The rules are tricky, the details confusing, and the opportunities to save are often buried under mountains of jargon.

You might think you have it covered—claiming loan interest, repairs, and a few other deductions. But without a property accountant, how can you be sure you are not missing something?

5 Tax Deductions You Could Be Missing

Here are just a few ways property accountants help uncover deductions that most people overlook:

Depreciation: Making Wear and Tear Work for You

Did you know that the natural wear and tear on your investment property could save you money? 

A depreciation schedule lets you claim this as a deduction. But figuring out what qualifies and how to claim it isn’t easy. A property accountant can make sure this goldmine doesn’t slip through your fingers.

Loan Interest: Getting It Right

If you have taken out a loan for your investment property, the interest is deductible. 

But if that loan is also used for personal expenses or renovations, things get messy. A property accountant helps you separate what is deductible from what isn’t so you don’t claim too much—or too little.

Capital Works: Big Changes, Big Savings

Renovated your property? Added a new deck or landscaped the backyard? These improvements may qualify for deductions under capital works. But the rules about what you can claim and over how many years can be confusing.

Travel Expenses: Not Completely Gone

While recent changes to Australian tax laws have limited travel deductions, some property-related trips can still be claimed. A property accountant knows exactly when this applies and can make sure you don’t miss out.

Repairs vs. Improvements: Knowing the Difference

Repairs can be claimed as an immediate deduction, but improvements can’t—they are claimed over several years. It is a fine line, and getting it wrong could cost you.

Want to Learn More?

If you are ready to discover all the tax deductions you could be missing out on, there’s more to explore. Visit our official blog for a deeper dive into the tax-saving tips only property accountants know. Read the full article here and make sure you’re not leaving any money on the table this tax season!