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Travel deductions for rental properties removed

Posted by Northadvisory on May 17, 2017

Deductions for travelling to a residential rental property will no longer be allowable for individuals after 1 July 2017. This removal is for individuals travelling to collect rent, maintain the property or complete an inspection.

Announced in the 2017/18 Federal Budget, this removal allows only a short period before 30 June for taxpayers to obtain a final deduction before the change.

This measure will not prevent investors from engaging third parties such as real estate agents for property management services. This expenses will remain deductible.

Our firm would be please to discuss this matter with you further. Please do not hesitate to contact us if you have any concerns relating to your tax.

Norman Ruan
T: 02 9984 7774

Martin van der Saag
T: 02 9984 7774