Uk rental - landlords 10% wear and tear deduction, similar apply in Oz ?

[the beak]

G'day,

 

I've been reading the above ruling concerning fixtures and fittings, from part or fully furnished rentals (UK)

 

If understand correctly from the HMRC website and pim3210 - furnished lettings: wear and tear allowance:-

 

a deduction can be made from a uk standpoint.

 

Does this ruling apply also here in Aus, or anything similar ?

 

I understand current deductions here from the rental income are:

 

loan interest

maintenance

agent fees

insurances

council rates and other fees

 

have i missed any others regarding what i can deduct here in Oz, to calculate my rental 'income' ?

 

thanks

[wolvesaussie]

I will be able to tell you shortly, my stuff is with the accountant, he has finished but i need to sign off on it. I submitted to him every single expense I had to do with the house, he appears to have taken most of them on board judging by how little tax I have had to pay

[the beak]

Thanks Wolves, much appreciated.

 

Am getting most of my figures down before i go see the accountant so any info would be great.

 

Not included my uk stuff before (was temp visa etc) but got a couple of years worth to do now.

[Alan Collett]

There is no wear and tear deduction in Australia.

 

Rather, you should consider obtaining a tax depreciation report from a Quantity Surveyor that can prepare a report that enables a deduction to be claimed on an Australian tax return for a let UK property.

 

Best regards.