Berwick Tax will need you to send/bring information to assist us in preparing your income tax returns with a rental property schedule. Please check the following and bring along payment summaries, statements, accounts, receipts etc to help us prepare the return.
Income details (yearly summary from property manager)
If new clients – Date property first available for rent
Percentage of ownership
Settlement statement for when property purchased (this is kept on file for when you sell CGT)
Expenses details including where applicable:
Copies of all bank statements showing interest on loans
Copy of Quantity Survey (Depreciation schedule)
Note: To ensure that you obtain the maximum deductions to which you are entitled and in consideration of the penalty provisions, FULL DETAILS of any claim should be provided and supporting documentation made available. Documentation may comprise of receipts, dockets, invoice, cheque butts or similar documents.
All original documents will be photocopied and sent back to you with your completed tax. return. Documents must be kept by you the taxpayer for a minimum of 5 years