EOFY Reminder for Property Investors: Is Your Investment Ready for Tax Time?
With the end of the financial year here, now is the perfect opportunity to get your investment property records in order.
A little preparation now can make tax time significantly easier and help ensure you don't overlook valuable deductions or important documentation.
Your EOFY Investment Property Checklist
Review Your Rental Income
Make sure you have accurate records of all rental income received throughout the financial year. If your property has been professionally managed, your end-of-year financial statement will be an invaluable resource for both you and your accountant.
Gather Maintenance & Repair Invoices
Collect invoices and receipts for any repairs, maintenance or improvements completed during the year. Keeping these organised now will save time later and help ensure eligible expenses are claimed correctly.
Check Your Insurance Documentation
Locate your landlord insurance policy and any related documents, including premium payments or claims made during the financial year. These may be relevant when preparing your tax return.
Review Your Depreciation Schedule
If you have a depreciation schedule, now is a great time to review it with your accountant. If your property has undergone renovations or you've recently purchased an investment property, it may be worth confirming that your schedule is still up to date.
Plan Ahead for Spring
EOFY isn't just about looking backwards—it's also an ideal time to review your property's performance and prepare for the months ahead.
Consider:
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Is your current rent keeping pace with the market?
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Are there any maintenance items that should be completed before spring?
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Is your property still meeting your long-term investment goals?
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Could small improvements increase your rental return or tenant appeal?
Taking a proactive approach now can help position your investment for a successful second half of the year.
We're Here to Help
At MIX Property Group, we work closely with our landlords throughout the year—not just at tax time. Whether you'd like to review your property's rental performance, discuss upcoming maintenance, or explore ways to maximise your investment, we're here to help.
Need support reviewing your investment property?
Get in touch with Ashlee and Sam at MIX Property Group for a no-obligation discussion about your investment and your plans for the year ahead.