Rental Property Tax Calculator
For a whole residential property rented to long-term tenants.
Your situation
Complete one calculation for one residential rental property and one tax year.
Please select a tax year.
Enter a whole number from 0 to 12.
Please select an option.
Rental income
Enter the income received from this rental property.
Enter the total rent received. Use 0 if you received no rent.
Rental expenses
Enter the actual amount you paid for each expense during the selected tax year.
Enter the council rates paid during this tax year.
Enter the actual amount you paid for utilities provided to the tenants. Do not enter anything if the tenants paid the provider directly.
Enter the house and landlord insurance paid during this tax year.
Enter fees paid during this tax year to manage the property, collect rent or find tenants.
Enter costs paid during this tax year to advertise the property and find tenants.
Enter costs paid during this tax year to fix damage or restore something to its previous condition.
Do not include improvements or upgrades
Do not include adding a room, installing a new heat pump where there was none, double glazing, major kitchen or bathroom upgrades, or replacing something with a substantially better item.
Enter costs paid during this tax year for lawn mowing and general garden maintenance.
Enter costs paid during this tax year for cleaning, carpet cleaning, pest treatment or professional sanitising.
Enter costs paid during this tax year for replacing keys, changing locks or repairing existing locks.
Enter accounting and tax return fees paid during this tax year for this rental property.
Enter general administration, insurance and maintenance levies paid during this tax year. Do not include capital improvements.
Enter costs paid during this tax year for tenancy agreements, recovering unpaid rent, the Tenancy Tribunal or evicting a tenant.
Enter direct travel costs paid during this tax year for inspecting the property or carrying out repairs and maintenance.
Enter depreciation claimed during this tax year on eligible rental furniture, appliances and other assets. Do not include land or the residential building.
Enter only the interest charged during this tax year. Do not enter your total mortgage payments or loan principal.
You can usually find this amount in your annual loan statement.Other rental expenses
Add any other rental expense paid during this tax year. Enter a description and amount for each item.
Expense amounts cannot be negative. Complete both the description and amount for each other expense.
Rental profit
Rental profit and loss statement.
Rental income
Rental expenses
Ownership split
Rental profit or loss by ownership share.
Summary
Rental property profit and loss statement.
Keep a copy of your result
Download this rental property profit and loss statement to your device.
Not sure how to enter these figures in myIR?
Contact The Number Shed for help with your rental income tax return.
Save and continue later
We’ll email you a private recovery link. Your saved calculation will be deleted after 30 days.