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FloraY1(Champion)Champion
25 Nov 2021

A rental property has been settled in June but cannot be successfully rented out till July. As this rental property kept being advertised for lease since its settlement, just wondering if the holding costs paid from the settlement date to 30 June can be claimed as rental losses? thanks

1,815 views
7 replies
1,815 views
7 replies

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Most helpful reply

BlakeATO(Community Support)Community Support
28 Nov 2021

Hi @FloraY1


That's because you need to tell us when the property was genuinely available for rent, not when it was rented. You're allowed to claim rental expenses from the time the property is genuinely available for rent, even if it was not actually rented until after the end of the financial year. :)

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Bruce4Tax(Taxicorn)Taxicorn
25 Nov 2021

If the property was available for rent as stated, then expenses are claimable.

Liked by alfnewman
FloraY1(Champion)Champion
26 Nov 2021

Dear Bruce, Yes, it was available for rent all the time from the very beginning. My initial thoughts are in line with yours. But it is so weird. The tax return form would not allow me to enter the date property first earned rental income after the 30th of June. An error was popping up. As such, in your opinion, do I have to enter the date before 30/06? But this property has been rented out a few weeks later. Thanks a lot for all.

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