RealWay Property Partners

EOFY for Property Investors

End of Financial Year – An important time for property investors!

a person is holding a bunch of keys in front of a model house .

1. Speak to your accountant

A good accountant is an absolutely crucial tool to any property investor. They will have a full understanding of your financial circumstances and will be able provide advice of the best way to structure your investment. They will also be able to provide guidance on possible tax implications and also benefits of having an investment property. If your investment is negatively geared, a good accountant should also help make sure your cash flow is maximised, so that you receive tax benefits through the year rather than in one hit.


2. Keep good records

Investment properties can come with great tax benefits, including the ability to claim interest, travel, repairs and depreciation. However, to claim these, you also need to keep good records. Now is the time to make sure those receipts and documents are in order. As part of this, you should also make sure you have a good depreciation schedule prepared by a quantity surveyor. This sets out every item in your home that’s eligible for depreciation and gets lodged with your annual tax return.


3. Consider making any repairs

One of the most important tax benefits for landlords is that repairs are completely tax-deductible when they happen. You don’t have to depreciate them over time. This means you can effectively reduce your income and pay less tax in the financial year in which you carry them out. However, in the eyes of the ATO there’s a difference between repairs and improvements. The second category – which includes extensions and renovations – needs to be claimed over time rather than in one hit. So be careful about which category your work falls into and speak to your tax advisor if you’re in any doubt.


4. Get your timing right

Whether you do something before or after 30 June can matter a lot when it comes to your tax. Not only are most expenses deductible during the financial year they’re incurred, any income you receive from renting or selling an investment property also gets counted in the financial year you receive it. That means if you sell a property before 30 June for a profit, any capital gains tax (CGT) you must pay will be based on this year’s income. After 30 June, it counts towards next year’s.


5. Consider next year’s interest bill

If you want to reduce your taxable income this financial year, one way you may be able to do it is to prepay next year’s interest on any loan you have over your investment property. However, to do this you’ll need to meet a few criteria. These include having a fixed rate home loan and having that loan entirely separate from your personal finances.


If you’re looking to reduce your tax bill, you may also be able to pre-pay some of next year’s expenses before 30 June. This may include rates and levies and some insurance premiums. Again, speak to your accountant if you’re interested in knowing how to do this.


6. Speak to us

We can help you make the most of the end of financial year. We can also advise you on what you should be doing on a practical level to improve your property’s value and potentially minimise tax. For instance, having someone carry out regular outdoor maintenance won’t just leave your place looking better, it’s also usually tax-deductible.



We also provide each of our clients with monthly and annual income and expense statements, showing exactly what they’ve made and spent. These are essential when it comes to understanding where you stand come 30 June.


a family is sitting on the floor.

Attracting good tenants for your investment property

February 1, 2024
Owning an investment property is a great way to build equity for your future whether that be planning for the short term or into retirement. One of the challenges to ensuring that your investment runs smoothly is finding a great tenant. A tenant that maintains a clean rental history and looks after the property can reduce any stress around your rental and will ensure that the tenancy ticks along smoothly. Retaining a good tenant ensures that you can minimise a loss in rental returns as the longer a property sits vacant, the more you lose in potential revenue. Meticulous tenancy screening It is part of the Property Managers role to ensure that they carry out thorough reference checking for all applicants on your property and will then communicate their suitability with you. They will also conduct regular routine inspections and provide feedback to you and the tenants where there are concerns that need to be addressed. A key aspect to finding good tenants is maintaining a property that is appealing and priced right to attract the best possible applicants who will take care of the property and pay rent on time. Perfect property presentation Property presentation is important and before renting your property, our property management team can walk through the home with you and provide recommendations on potential improvements that appeal to great tenants. You may need to consider a refresh of interiors like paint, carpet, and blinds or an update to appliances like dishwashers, air conditioners, dryers, and kitchen appliances. Many of these items are considered to have a life span of 10 years and updating these can give the property a new life and attract the best tenants. Depending on the age of the kitchens and bathrooms, it may be recommended to update these rooms. These more extensive works can take time and are a considerable investment. Knowing what is needed can help you plan for future renovations. Professional cleaning and maintenance Before showing the property to prospective tenants, ensure that it is clean and that the lawns and gardens are well maintained. This helps to create a benchmark at the start of the tenancy and ensures that the tenant is moving into a well-maintained home. If you prefer that the lawns and gardens are maintained to a particular standard, it is recommended that this is included with the tenancy as not everyone has a green thumb. As with any investment you need to consider expenses for day-to-day bills as well as repairs and maintenance costs. Contact our property management team who can provide recommendations and help you to find the best tenants for your investment.
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First Time Property Investors

First Time Property Investors

May 31, 2022
We understand that as an investor, you have a lot on your mind after deciding to buy an investment property. There are many things you will wonder about, from selecting the right property manager to deciding whether a 6 or 12-month lease is best. We have created the following to assist you in answering any questions you may have and to assist you in making the best decisions for yourself and your investment. Selecting Tenants When it comes to selecting a tenant, we know how important it is to choose the right person(s) you know and trust will take care of your property as if it were their own. You should always have the final say when it comes to choosing a tenant, as an agency we complete all reference checks, and provide a professional opinion on who we would recommend while also allowing you to view all applications and supporting documents. Can I say no to pets? Although there has been much speculation around the rights of both the tenant(s) and investor(s) when it comes to whether pets are allowed in a property, we are here to clear things up. Under current Queensland legislation, landlords do still reserve the right to say no to pets, however, as of 1 October 2022 landlords can only deny pets if the refusal is deemed reasonable, and all tenants are allowed to negotiate renting with pets. To learn more about the upcoming law reforms, click here. As an agency, we generally recommend listing a home as pets negotiable, depending on the property. Please keep in mind that if you say no to pets, you may be cutting yourself off from approximately 80% of the market in Toowoomba. If you approve a pet, we do require tenants to sign a pet agreement assuming full responsibility for the pet, so if it paws screen doors, digs holes, upsets the neighbours, and so on, it could be considered a breach of their agreement. Do I need to have a bond clean done prior to renting my home? It is strongly advised that a professional bond clean, flea treatment, and carpet cleaning be performed prior to tenancy. We recommend this because if we hand over the property in pristine condition, we can keep that standard for future tenancies and require that the home be returned to that standard at the end of each tenancy. Should I opt for a 6 or a 12-month lease? Typically, we do suggest a 6-month lease initially, however, there are many circumstances where a 6-month lease is preferable and equally as many instances where a 12-month lease is preferable. A six-month lease will give your property manager time to get in and complete their first inspection, make sure you are happy, the tenant is happy, and everything is moving along smoothly, then offer a 12-month lease from there. Alternatively, if you did receive a very strong application that had great rental history, had been in their job for quite some time, etc. it would be worth considering locking them down for 12 months. On the application, we do ask tenants what their preference is, which is then presented to the landlord to either approve or decline from there. Can I charge tenants for water consumption? Providing the home meets these standards, you can charge the tenant for water. What happens if the tenant damages the home? Landlord insurance is something we would strongly recommend to every investor to provide a piece of mind. To read more about why we advocate for landlord insurance, click here. If a tenant maliciously damages a home, should the damage exceed one week’s rent, our agency will contact you and discuss your options. A Form 11 Notice to Remedy Breach will be issued providing 7 clear days’ notice for the issue to be rectified. In the event the tenant fails to rectify the damages, the agency may then move to issue a 14-day Form 12 Notice to Leave for failure to rectify a Form 11 Notice to Remedy Breach. What happens if the tenant stops paying rent? As soon as we are aware of the overdue rent, we make every effort to contact and notify the tenant by contacting them, via email, phone, and post. Once the rent reaches 8 days in arrears, we will then issue a Form 11 Notice to Remedy Breach for Rent Arrears. Can I use my preferred tradespeople? Landlords can certainly use their preferred tradespeople, and when it comes down to it, it is the landlord’s choice. There can, however, be benefits in using the tradespeople your agency recommends. The advantages of using the recommended tradies are the following: The agency knows and trusts these contractors The agency knows and trusts the quality of the tradespersons work The agency has a copy of their public liability insurance When will I receive my rental payments? Here at RealWay, we offer two options, either Mid and End of Month or just End of Month. There are no extra charges associated with choosing one or the other, it simply is dependent on your personal preferences when considering how your finances are structured. Mid & End of Month disbursements are paid the first working day after the 15th & again on the first business day of the month. The end-of-month disbursement is paid only on the first business day of the month. Becoming a property investor is an exciting time that can be very profitable, but it can also come with many challenges. To ensure you have all the correct and up-to-date information, we recommend speaking with your preferred property manager. If you are thinking of purchasing an investment property, our team here at RealWay offers an exclusive investor support service. To learn more, click here or contact Grace on 0437 637 232.
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