All Topics / Legal & Accounting / Rental Income – Recoveries

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  • Profile photo of reybarreybar
    Participant
    @reybar
    Join Date: 2015
    Post Count: 1
    July 3, 2015 - 8:14 pm

    Hi all,

    During the year, I had been mistakenly charged for the tenants water usage. This was rectified with the tenant reimbursing me.
    This payment has appeared on my annual statement as ‘Outgoings Recovered – Water Usage’.
    I assume this should NOT be claimed as rental income, since it came out of my pocket, just wanted to double check here.

    Appreciate any comments!

    Sean

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    July 3, 2015 - 10:23 pm

    Its income as money recovered. Just claim the amount you paid.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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