What your property manager should hand your accountant at EOFY
Tax time separates well managed properties from merely managed ones. If your agent has done their job through the year, your accountant needs about ten minutes with your file. If they have not, you spend a weekend reconstructing twelve months of rent, repairs and fees from scattered emails. Here is exactly what should land in your inbox at EOFY, without you asking.
01. One annual statement, not twelve monthly PDFs
The core document is a financial year summary: every dollar of rent collected, every fee charged and every expense paid on your behalf, totalled for the year in one statement. Your accountant works from the totals, not the monthly paperwork. If you are still forwarding twelve separate monthly statements each July, that is a process gap, not a you problem.
At The Gallery this lands in your owner portal at the start of July, and stays there with every prior year, so nothing depends on finding an old email.
02. The invoices behind every number
A summary line that says repairs, $840 is not enough if the ATO ever asks. Every maintenance invoice, water charge and compliance cost should sit behind the statement as an attached document. A good agent files the invoice against the property the day the work is done, so the EOFY pack is complete the moment the year closes.
03. The prompts most owners never get
The statement covers what your agent handled. A property manager who thinks like an advisor also reminds you about the documents only you can produce:
- Depreciation schedule. If your property is newer or recently renovated and you have never had one prepared by a quantity surveyor, you may be leaving thousands in deductions unclaimed, every year.
- Loan interest statements. Usually the largest deduction of all and the one your agent never sees.
- Landlord insurance premium. Deductible, and routinely forgotten because it renews in a different month.
- Land tax and strata levies where you pay them directly rather than through the agency.
- Any expense you paid yourself. If you covered an invoice directly, it is not in the agent ledger. Keep it with the pack.
Talk to us about how your property is managed
04. Do not just file the numbers. Read them.
The EOFY statement is also the clearest annual picture of how your investment is actually performing. Before it goes to the accountant, look at three things. Whether rent kept pace with the market or quietly fell behind. Whether the same repair shows up more than once, which usually means a patch was chosen over a fix. And what your true net position was after every cost, not just the headline rent.
That reading is where management ends and advice begins. It is the conversation we have with our owners every year, because next year's return is decided by what you do now, not in June.
If the pack described above does not sound like what you received this July, that is worth a conversation too. Start with what the market says your property should be earning, then see exactly how we manage.
General information only, not tax advice. Deductions depend on your circumstances, so confirm the specifics with your accountant or a registered tax agent.