I bought a property and am renting it out. I know I have to submit the rental income. Am I also able to submit the expenses (i.e. Transfer / legal cost to obtain the property) levies paid, rates and taxes and electricity for this property?
The costs you incurred to acquire the property you can unfortunately only claim when you sell the property, you will deduct this from your capital gain. Kindly read through our blog on Rental property deductions
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