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IQ Graduate | Rental Properties on the tax return

Graduate IQ-3. How to manage a rental property on a clients tax return.

What do your rental property clients need to do to declare their income from rent? We look at what the tax return requires, how income is managed, what your clients can and cannot claim as a deduction, and some of the issues that typically arise in practice and how to deal with them.

This module is available as part of the Accounting Graduate IQ Program.

1.75 CPD Hours (Tax) including Q&As

Accreditation 022402
Total 1.75 CPD Hours

What we cover

How long do I have to complete the course

With practical examples and embedded Q&As, we explore:

Rental income and expenses on the tax return
Co-owned rental properties
Renting to a related party
Rental expenses
- Specific expenses
- Prepaid rental expenses
- Travel expenses
Repairs & maintenance
- Repairs v capital improvement
Capital deductions – depreciation v capital works
- Depreciating assets
- ‘Previously used’ assets in residential properties
Capital works
Acquisition and disposal costs
Holding costs when building
Renting through the sharing economy
Foreign rental properties

Each course will remain accessible to you (the registered person) until you access it for the first time. Once accessed (when you click on ‘go to course’) you have 3 months to complete it.

Karen Vella

Tax Training Team Leader, TaxBanter

Karen has over 25 years experience in the tax profession, first as a practitioner and more recently as an educator. She trained with the Big Four and initiated her own successful small practice before moving to Hayes Knight as a Partner.

Prior to joining TaxBanter, she spent many years as a trainer and technical writer for Webb Martin Training, and then most recently TaxBytes. She is also a regular presenter and consultant for Knowledge Shop.

Karen loves to talk tax. She has provided tax training to clients ranging from the Australian Taxation Office to accounting firms, both large and small. Her specialty is translating complex content into something meaningful, engaging and practical for her clients, no matter their level of experience.