EOFY 30 June · FY 2025-26 · Interactive

EOFY investment property tax checklist

Before 30 June, Australian property investors should gather every rental statement and expense receipt, bring forward deductible repairs and any interest or insurance worth prepaying, and order a depreciation schedule if they do not have one. Get repairs-versus-capital and any part-year apportionment right, then lodge.

Work through the interactive checklist below. It saves your progress on this device, so you can tick a few items now and finish later. Every task includes a one-line note on why it matters for your FY 2025-26 return.

Reviewed by the Vestly team

Updated June 2026Methodology

The interactive, checkable version needs JavaScript. Here is the full checklist as a static list.

1. Gather your documents

Pull every statement for the income year now, while it is easy to find. A missing receipt at lodgement usually means a missed deduction.

Annual rental income statement from your agentConfirms gross rent received and the management, letting and advertising fees already netted out.
Loan interest summary for the yearInterest is usually the single largest deduction. Get the lender annual summary, not a guess from repayments.
Landlord and building insurance premiumsLandlord, building and public liability premiums are deductible. Use the gross premium including any embedded levy.
Council rates and water noticesOwner-billed council rates, water service charges and waste fees are deductible holding costs.
Body corporate / strata statementsAdmin and sinking fund levies are deductible. Special levies for capital works are not - separate them now.
Property management and letting fee invoicesManagement commission, letting, re-letting and inspection fees are all deductible against rental income.
Repairs and maintenance receiptsA genuine repair is deductible this year. Without the receipt and a date you cannot substantiate the claim.

2. Maximise deductions before 30 June

A handful of moves only work if they are done before the financial year closes. After 1 July they roll into next year.

Consider prepaying interest before 30 JunePrepaying up to 12 months of interest can bring the deduction into this year - useful if your income is higher this year.
Consider prepaying insurance and other expensesPrepaying eligible expenses (insurance, some rates) before 30 June pulls the deduction forward into this return.
Bring forward genuine repairsA deductible repair done before 30 June is claimed this year. The same work done on 1 July waits a full year.
Order a depreciation schedule if you do not have oneA quantity surveyor schedule unlocks Division 40 and Division 43 deductions you cannot otherwise substantiate.
Review low-value pool and immediate write-offsLow-cost and low-value depreciating assets can be pooled or written off sooner, lifting your deduction this year.

3. Get your numbers right

These are the apportionment and classification calls that the ATO looks at most. Getting them right protects the whole return.

Split repairs from capital improvementsRepairs are deductible now; improvements enter capital works at 2.5% per year. Misclassifying either is the most common error.
Apportion interest if you redrew on the loanOnly the investment portion of a loan is deductible. A redraw for personal spending taints the interest claim.
Apportion by days if the property changed useIf it was your home for part of the year, deduct expenses only for the days it was genuinely available to rent.
Confirm the land value for land taxState land tax is based on the unimproved land value and is itself a deductible holding cost - check the assessment.

4. Lodge smart

The deductions investors most often forget are the ones spread across multiple years. Carry them into this return deliberately.

Claim this year of the depreciation schedulePlant and equipment (Div 40) and the building (Div 43) both deduct each year - pro-rate by days held if you bought or sold.
Claim capital works at 2.5% per yearEligible post-1987 residential building cost is deductible at 2.5% per year over 40 years from construction.
Amortise borrowing costs over five yearsLoan establishment fees, lender legals and LMI are not claimed up front - they spread over five years (or the loan term if shorter).
Carry forward prior-year capital lossesA capital loss from a previous year carries forward and can offset a capital gain when you eventually sell.

Track it all year, and your tax pack is ready at EOFY

This checklist is a once-a-year scramble for most investors. It does not have to be. Vestly categorises rent, rates, water, insurance, repairs, depreciation and land tax against the ATO rental schedule as you go, so on 1 July your figures are already sorted and ready for your accountant.

Get your tax pack sorted

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Deductions investors commonly miss

These are the claims most often left on the table, plus one rule (travel) that is commonly claimed in error. Check each one against your own situation before you lodge.

Deductions investment property owners commonly miss at EOFY
Deduction	Why it gets missed
Depreciation on older properties	Even a property built decades ago often holds claimable capital works and any newer assets you installed. A quantity surveyor can confirm what remains.
Borrowing costs amortised over five years	Loan establishment fees, mortgage stamp duty (where applicable), lender legal costs and title fees spread across five years, not the year you paid them.
Loan establishment and LMI fees	Lenders Mortgage Insurance and loan setup fees are borrowing costs - deductible over five years (or the loan term if shorter), not as an upfront expense.
Quantity surveyor schedule fee	The fee you pay for the depreciation schedule itself is a deductible cost of managing your tax affairs.
Travel rules for residential investors	Travel to inspect or maintain a residential rental has not been deductible for individual investors since 1 July 2017 - claiming it is a common error, not a missed deduction.
The six-year CGT rule on a former home	If you move out of your main residence and rent it, the absence rule can keep it CGT-exempt for up to six years, provided you do not treat another property as your main residence.

EOFY property tax: frequently asked questions

What can I claim on my investment property?

You can generally claim the costs of holding and managing the property: loan interest, council rates, water, landlord and building insurance, body corporate levies, property management fees, repairs and maintenance, and depreciation. Capital costs such as the purchase price and stamp duty are not deductible against rent but are added to the cost base for capital gains tax later.

When is the tax deadline for property investors?

The Australian financial year ends on 30 June. If you lodge your own return, the usual deadline is 31 October. If you lodge through a registered tax agent, you generally have longer, often into the following year, provided you are on the agent list before 31 October. Any tax owing is still due on time, so confirm dates with your agent.

Should I prepay interest before 30 June?

Prepaying up to 12 months of loan interest before 30 June can bring that deduction into the current year. It tends to help when your taxable income is higher this year than you expect next year, or when you want to lock in a fixed rate. It is a timing decision, not a saving in itself, so weigh it against next year position with your tax agent.

Do I need a depreciation schedule?

If your property is reasonably modern or you have renovated it, a quantity surveyor depreciation schedule usually pays for itself many times over in the first year. It documents Division 40 plant and equipment and Division 43 capital works so you can claim them with confidence. The schedule fee is itself deductible, and one schedule covers up to 40 years.

What is the difference between a repair and an improvement?

A repair restores the property to its previous condition, such as fixing a leaking tap or replacing a broken window with a like-for-like one, and is deductible in the year you incur it. An improvement takes the property beyond its original state, such as a new kitchen or an extension, and is claimed slowly as capital works at 2.5% per year over 40 years.

Are borrowing costs deductible straight away?

Generally no. Borrowing costs such as loan establishment fees, lender legal fees, title search fees and Lenders Mortgage Insurance are spread over five years, or the term of the loan if it is shorter. Only where total borrowing costs are very small are they deductible in full in the first year. Keep the loan setup paperwork so the amounts can be amortised correctly.

Can I still claim depreciation on a second-hand property?

For residential property contracts dated 9 May 2017 or later, you generally cannot depreciate second-hand plant and equipment left by the previous owner. You can still claim Division 43 capital works on the building and depreciate any new assets you install yourself. Properties acquired before that date kept their earlier entitlements, so the answer depends on when you bought.

How can Vestly help at tax time?

Vestly tracks rent, rates, water, insurance, repairs, depreciation and land tax against the ATO rental schedule throughout the year, across every property you own. Instead of reconstructing a year from a shoebox in late June, your figures are already categorised, so your end-of-year tax pack is ready to hand to your accountant with far less billable time.

Keep going

The checklist tells you what to do. These tools and guides help you put real numbers to it.

Tax deductions by state - every deductible expense plus land tax and stamp duty
Depreciation calculator - estimate Division 40 and Division 43 deductions
Negative gearing calculator - the tax saving when expenses exceed rent
CGT calculator - 50% discount applied for holds over 12 months

Last updated June 2026, for the FY 2025-26 return.

Stop scrambling every June

Track every property once and the end-of-year tax pack writes itself. Vestly keeps your rental income, expenses and depreciation categorised against the ATO schedule all year, ready to hand to your accountant at EOFY.

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General information current as of June 2026 and based on ATO rules for the FY 2025-26 income year. Tax rules change frequently. Not financial or legal advice. Consult a registered tax agent for advice on your situation.