How to Prepare for EOFY as a Property Investor
June 30 creeps up every year. Here's the checklist that will have you walking into your accountant's office with everything ready.
The end of the Australian financial year is June 30 — and for property investors, it's both the most important date on the calendar and the most stressful. If you're well-organised, EOFY is just a 30-minute export. If you're not, it's a week of hunting through bank statements and digging up old invoices. Here's how to be the former.
Know What You Can Claim
The ATO allows property investors to claim a broad range of expenses as tax deductions — as long as the property is rented or genuinely available for rent.
- Council rates and water charges
- Strata levies (administrative and capital works)
- Landlord and building insurance premiums
- Property management and letting fees
- Land tax
- Repairs and maintenance (not capital improvements)
- Loan interest and bank fees
- Depreciation on plant, equipment and the building structure
Start Reconciling in May, Not July
The biggest mistake investors make is waiting until after June 30 to start gathering records. By then, you're scrambling to find invoices and match bank transactions. Start in May — pull all your receipts and payment confirmations for the year, reconcile them against what you expected to pay, and flag anything missing.
The "Pay Before June 30" Strategy
If you have bills that fall in July but can be paid before June 30, paying them early moves the deduction into the current financial year. Common examples include annual insurance renewals, land tax assessments, or the June quarter's property management invoice. Always check with your accountant before prepaying expenses, as the ATO has rules about prepaid deductions that extend beyond 12 months.
Organise by Property and Category
Your accountant works fastest when expenses are already grouped. Present your records by property, and within each property, group by category: rates, insurance, maintenance, and so on. A purpose-built tool that exports to a CSV already formatted by ATO category can cut this prep time down to minutes.