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tax deductions

Expense Write-Offs

We can’t stress enough how important it is to understand everything that can be written off and to keep good records for reporting your Airbnb taxes. Here’s a list of potential deductions:

  • co-hosting services we provide

  • advertising for tenants

  • bank charges

  • body corporate fees and charges

  • borrowing expenses

  • capital works

  • cleaning

  • council rates

  • decline in value of depreciating assets

  • gardening and lawn mowing

  • insurance - building, contents and public liability

  • interest expenses

  • land tax

  • legal expenses (excluding acquisition costs and borrowing costs)

  • pest control

  • phone

  • property agent fees and commissions

  • repairs and maintenance

  • stationery and postage

  • travel undertaken to inspect or maintain the property or to collect the rent

  • water charges.

 

Not all of these may be tax deductible in your situation. Refer to the ATO website for further details about property deductions.

You may like to read about the sharing economy and tax regulations.