Own an investment property? What you need to know about Covid this tax time

It’s that time of year again: tax time!

Some residential investment property owners have had to make adjustments to their Tenancy Agreements as a result of COVID-19. What does this mean with regards to expenses and deductions you can claim.


  • What expenses are claimable if tenants are not paying their rent under the lease agreement due to COVID-19?
  • Will deductions for rental property expenses stay the same if the property owner reduces the rent charged?
  • Must a back payment of rent or an amount of insurance received for lost rent be included as income?
  • Is a deduction on the interest charged on a rental property loan allowed if the bank defers repayments due to the COVID-19 outbreak?
  • Is the new instant asset write-off deduction available for residential rental property assets?

The ATO has shared clear answers to these questions:

Of course, your accountant will be the best person to help you deal with these – and other property-related tax issues at tax time.

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