Advertisement
Via Domain:
The expenses of landlords who negatively gear investment properties have been revealed in new figures showing property owners collectively spent millions of dollars on gardening, office costs and travel.
Expenses claimed for loss-making rental properties, 2016-17
EXPENSE COST ($) Interest on loan(s) 18,003,089,767 Capital works deduction 2,686,282,577 Plant depreciation 2,267,756,183 Council rates 1,975,758,715 Repairs and maintenance 1,861,206,782 Property agent fees/commission 1,601,497,785 Body corporate fees 1,438,526,797 Insurance 931,868,817 Water charges 923,262,139 Sundry rental expenses 759,398,052 Land tax 558,241,139 Borrowing expenses 271,147,449 Travel expenses 269,430,348 Cleaning expenses 175,716,353 Gardening/lawn moving expenses 145,180,853 Advertising for tenants 75,996,265 Pest control 49,494,620 Stationery, telephone and postage 41,728,055 Legal fees 39,258,601
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.