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Guidance covers owning and renting, key tax and disaster considerations, granny flat arrangements, and determining whether the rental property is outside Australia. The publication also details rental income components, common deductible and non-deductible expenses, record-keeping, capital gains tax, GST, negative gearing, PAYG instalments, and related residential rental property assets.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":36,"@type":70,"position":76},"https://docshare.wps.com/template/forms/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/rental-properties-guide-2024-nat-1729-062024-ato-rental-income-and-expense-guidance/303557/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/rental-properties-guide-2024-nat-1729-062024-ato-rental-income-and-expense-guidance/303557.png","ImageObject",442,249,{"name":88,"@type":89},"Bintang","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-05","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",6,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"How does the guide describe treatment of rental income and expenses?","Question",{"text":109,"@type":110},"It explains how to account for rental income and rental expenses, including how different residential rental property items are treated for tax purposes.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"What topics related to ownership and rental are covered?",{"text":114,"@type":110},"The guide covers owning and renting, tax and natural disasters, granny flat arrangements and capital gains tax, and how to determine if the rental property is outside Australia.",{"name":116,"@type":107,"acceptedAnswer":117},"Where can readers find guidance on deductions and records?",{"text":118,"@type":110},"It provides sections on rental expenses, including deductible and non-deductible items, and instructions for keeping rental property records, including a worksheet to work out net rental income or loss.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},303557,1790130572,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":136,"language":137,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":61,"update_tm":141,"read_time":40},962085564381,"https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","Rental properties guide 2024  \nThis guide explains how to treat rental income and expenses,  \nincluding how to treat more than 230 residential rental property items  \nFor more information [go to](go to ato.gov.au)[ ato.gov.au](go to ato.gov.au)  \nNAT 1729-06.2024  \nOur commitment to you  \nWe are committed to providing you with reliable, accessible and useful information to help you understand your rights and entitlements and your obligations.  \nIf you follow our information in this publication and it is misleading or turns out to be incorrect and you make a mistake as a result, we must still apply the law correctly. If that means you owe us money, you must pay it but we will not charge you a penalty. Also, if you acted reasonably and in good faith we will not charge you interest. If correcting the mistake means we owe you money, we will pay it and pay you any interest you are entitled to.  \nFor more information, go to [ato.gov.au/howyouareprotected](ato.gov.au/howyouareprotected)[ ](ato.gov.au/howyouareprotected)If you feel that this publication does not fully cover your circumstances, or you are unsure how it applies to you, you can seek further help from us.  \nOur Charter outlines the commitments we make to you and everyone we work with, our expectations of you and steps you can take if you are not satisfied. For more information, go to [ato.gov.au/ourcharter](ato.gov.au/ourcharter)  \nWe regularly revise our publications to take account of any changes to the law, so make sure that you have the latest information. If you are unsure, you can check for more recent information on our website at [ato.gov.au](ato.gov.au) or contact us.  \nThis publication was current at May 2024.  \n© Australian Taxation Office for the Commonwealth of Australia, 2024  \nYou are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products) .  \nPublished by  \nAustralian Taxation Office Canberra  \nJune 2024 DE-60170  \nContents  \nGeneral guidance for rental property owners ......................................................... 2  \nOwning and renting a property ................................................................................... 2  \nTax and natural disasters ....................................................................................... 2  \nGranny flat arrangements and capital gains tax ..................................................................... 2  \nIs your rental property outside Australia? .......................................................................... 2  \nWhat’s new in the rental properties guide? ........................................................... 2  \nEffective life determinations ..................................................................................... 2  \nRental income ..................................................................................... 3  \nRental and rental-related income ................................................................................. 3  \nCo-ownership of rental property ................................................................................. 3  \nRental expenses................................................................................... 6  \nTypes of rental expenses ....................................................................................... 6  \nAlways check your supplier’s ABN ................................................................................ 6  \nExpenses for which you cannot claim deductions ................................................................... 6  \nTravel expenses ............................................................................................... 6  \nCertain second-hand depreciating assets ......................................................................... 6  \nExpenses for which you can claim an immediate deduction....................................","cbCaifhdXItqu8Sm","https://ap.wps.com/l/cbCaifhdXItqu8Sm","pdf",1162131,52,"English","# General guidance for rental property owners\n## Owning and renting a property\n## Tax and natural disasters\n## Granny flat arrangements and capital gains tax\n## Is your rental property outside Australia?\n## What’s new in the rental properties guide?\n## Effective life determinations\n# Rental income\n## Rental and rental-related income\n## Co-ownership of rental property\n# Rental expenses\n## Types of rental expenses\n## Always check your supplier’s ABN\n## Expenses for which you cannot claim deductions\n## Travel expenses\n## Certain second-hand depreciating assets\n## Expenses for which you can claim an immediate deduction\n## Expenses deductible over several income years\n# Keeping rental property records\n## Worksheet – work out your net rental income or loss\n# Other tax considerations\n## Capital gains tax (CGT)\n## General value shifting regime\n## Goods and services tax (GST)\n## Negative gearing\n## Pay as you go (PAYG) instalments","[{\"question\":\"How does the guide describe treatment of rental income and expenses?\",\"answer\":\"It explains how to account for rental income and rental expenses, including how different residential rental property items are treated for tax purposes.\"},{\"question\":\"What topics related to ownership and rental are covered?\",\"answer\":\"The guide covers owning and renting, tax and natural disasters, granny flat arrangements and capital gains tax, and how to determine if the rental property is outside Australia.\"},{\"question\":\"Where can readers find guidance on deductions and records?\",\"answer\":\"It provides sections on rental expenses, including deductible and non-deductible items, and instructions for keeping rental property records, including a worksheet to work out net rental income or loss.\"}]","Rental properties guide 2024 - NAT 1729-06.2024 - ATO rental income and expense guidance | PDF",1789805138]