Investment property tax spreadsheet
Keep track of your property-related income and expenses with our downloadable investment property spreadsheet.
Key takeaways
- Investing in property has plenty of tax advantages. And it really helps to have an investment property spreadsheet to keep track of expenses you can claim.
- You need to provide your accountant a list of expenses related to the property, and the income you've earned from it.
- You can keep track of everything by downloading the spreadsheet below.
Download our investment property tax spreadsheet
Your investment expenses
Throughout the tax year, you may have a variety of costs related to your property.
Purchase costs
Purchase costs are only relevant for the tax year in which you purchase your investment property, but most of them are not an immediate deduction. Stamp duty, building and pest inspections and solicitor or conveyancing fees are capital costs: you add them to the property's cost base, which reduces your capital gain when you sell. Borrowing expenses such as loan establishment fees, lender's mortgage insurance and mortgage registration are deductible, but spread over the life of the loan or 5 years, whichever is less. Either way, record them in the year you buy:
- Stamp duty
- Mortgage registration and transfer
- Building and pest inspections
- Solicitor and conveyancing fees
If you incurred any other expenses related to the purchase of your investment property, make sure to record them, even if you’re uncertain whether or not they’re relevant. Your accountant will be able to sort through and find the deductions.
Home loan costs
Investors receive generous tax treatment when it comes to home loan expenses. While owner-occupiers can’t deduct their mortgage interest from their taxes, investors can. Here are some of the home loan costs you can deduct:
- Home loan interest
- Home loan fees
- Lenders mortgage insurance (LMI)
You should be able to find all the expenses related to your home loan on your monthly statement. Most lenders will also issue an end-of-financial-year statement with a rundown of all the interest charges and fees throughout the financial year.
Upkeep costs
One of your primary jobs as a landlord is to keep your property in good working order for your tenants. Fortunately, the costs associated with the upkeep of your property are deductible. You can deduct:
- Repairs
- Cleaning fees
- Pest control fees
- Gardening fees
- Renovation costs
It’s worth noting that the Australian Tax Office (ATO) treats repairs differently than it treats renovations that improve a property. You can learn about the differences here.
Running costs
In addition to repairs and maintenance, there are a variety of costs associated with running an investment property. You can deduct expenses such as:
- Council rates
- Water rates
- Strata fees
- Property management and letting fees
- Building insurance
- Landlord insurance
- Land tax
You can also deduct some miscellaneous expenses, such as travel to and from your investment property, and stationary and postage relating to your investment property.
Your income
Your accountant also needs to know the income you receive from your investment property, which should be relatively easy to calculate. Your property manager will have a statement of rental income you’ve received.
The only other income you’re likely to receive from your investment property is water usage you charge to your tenants, and any insurance policy claims that are paid out during the tax year.
How much do buyers borrow?
All Australian property owners borrow staggering amounts of money to enter the market. According to Finder analysis of ABS lending indicators, the average owner-occupier borrowed $731,000 in the June 2026 quarter, while the average investor borrowed $708,000.
Adding it all up
Once you have a detailed picture of all the expenses and income relating to your investment property, you should be able to get an idea of your cashflow for the tax year. Your cashflow is your income minus your expenses.
In addition to expenses, you can also deduct depreciation of the building and certain items you’ve bought for your property.
These items include anything likely to experience wear and tear over time, such as appliances, carpets and curtains.
However, you should note that the items must be ones you purchased, and not items purchased by a previous owner of the property.
Frequently asked questions
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