As we approach the end of the financial year, now is the perfect time for property investors and landlords across NSW to review, prepare, and maximise their tax deductions. Whether you own one rental property or a growing portfolio, a little EOFY planning can go a long way in reducing stress and boosting your return.
Here’s your EOFY checklist for landlords and property investors to help you make the most of tax time in 2025.
EOFY Checklist for Property Owners in NSW
1. Organise Your Rental Income & Expenses
Ensure all financial records are up to date. Include rent received, repairs, property management fees, council rates, insurance, and strata costs. These may be tax-deductible for investment properties.
2. Review or Get a Depreciation Schedule
If you haven’t already, consider booking a tax depreciation report with a qualified quantity surveyor. This can help you claim deductions on your property’s structure and fittings, even if it’s not brand new.
3. Complete Maintenance Before 30 June
If you’ve been putting off small jobs, now’s the time to act. Common deductible maintenance includes servicing heating systems, fixing leaks, or repairing fencing and fixtures.
4. Gather Loan & Interest Statements
Make sure you have documentation showing interest on investment property loans, which is typically deductible. Check with your accountant if any prepayments are eligible.
5. Confirm Your Tax Strategy with an Expert
EOFY is the best time to speak with your accountant or financial adviser about tax planning, especially if you’re considering buying, selling, or refinancing a property.
How to Maximise Your EOFY Tax Benefits
- Pay Ahead and Claim Now
If you have an investment loan, some banks let you pay next year’s interest upfront. That means you might be able to claim it this financial year and boost your tax return. Speak to your accountant to see if it’s a good fit for you. - Track All Deductible Items
Did you buy new blinds, smoke alarms or even an air conditioner for your rental this year? You might be able to claim those costs at tax time. Just make sure you’ve kept the receipts so your accountant can work out what’s eligible. - Do That Maintenance Now
Planning to fix the fence or get the plumbing sorted? If you do it before 30 June, you might be able to claim the cost in this year’s return. It’s a great way to tidy up the property and your tax claim at the same time. - Book a Rental Appraisal
Now is also a smart time to review your current rent return. Your property may be under-rented based on current demand. Book your rental appraisal here to make sure you’re maximising your return.
Why Work With First National Real Estate Forster-Tuncurry?
At First National Real Estate Forster-Tuncurry, we offer full EOFY support for our landlords—from detailed EOFY statements, to maintenance coordination and ongoing portfolio advice. We also monitor rental market trends to help you stay competitive year-round.
Need help getting EOFY-ready or growing your investment portfolio? Contact our experienced property management team today.
Disclaimer:
This article is intended as general information only and does not constitute financial, tax, or legal advice. Always consult a qualified accountant, financial advisor, or tax professional to discuss your individual circumstances before making any financial decisions.