Hi Everyone,
This financial year, I have received recovery from bond due to tenant leaving the unit not so clean when she vacated.
Does the money I have received go in as rental income on my tax claims? I havent come across this in my previous years of investing? Help appreciated
Hello Tracy
Yes, you do have to add this to the rental income.
However, assuming you used some/all the money to get the place well cleaned and this is an expense which you can deduct, the bottom line will not change much.Hope this helps.
Elka
P.S. I am not an accountant.
Thanks for that , yes I thought as much. I do my own tax, so will probably call the ATO still , but it makes so much sense to put in as rental income. yes I have the cleaning costs to offset it.
cheers
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