What expenses should I be claiming for on my investment property?

Do you want to reduce your end of year tax bill and increase your yield on your investments? We want to help ensure you know what expenses you are able to claim to reduce your costs and increase your profits. This will require good record keeping so ensure you make a plan at the start of the new business year to have everything you need come tax time.

Insurance and rates

  • Insuring your rental property is a must, and what’s even better is that you are able to claim back the cost of this on your end of year tax amount. The rates for your property are also an expense you can claim.


  • The interest that you get charged on money you borrow for your rental property is able to be claimed back. However, this excludes any money which was borrowed for another purpose or if the mortgage is topped up for another purpose.

Fees and commission

  • If you have decided to have your property managed by a rental company you are able to claim the fees/commission paid. If you don’t use management services but pay letting agents to find you a tenant this is also able to be claimed on.

Accountant fees

  • Unfortunately the costs involved in setting up your rental property are not able to be claimed however you can claim for your accounts to be managed, tax returns to be prepared and advice.

Repair and maintenance costs

  • General maintenance to your rental property is able to claimed however if you are carrying out the work yourself, then only the materials can be claimed – not the labour.
  • If the work being carried out isn’t classed as a repair, but more of an improvement or upgrade then this cannot be claimed as an expense.

Motor vehicle expenses

  • The running costs of travelling to inspect your property or carryout repairs can be claimed on, this can be done in one of two ways. You can do it by using kilometer rates, or claiming a percentage of the total running costs and depreciation.

If you want to deal with independent property management specialists who’s sole focus is the upmost care of your property whilst obtaining the highest yield possible on your investments then call Quinovic Mt Eden today.