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How to Prepare a Rental Property Schedule

Step by Step Guide to Preparing a Rental Property Schedule

As the ATO have been scrutinising rental schedules in recent times, it is important that we get it right.

Below are the steps to complete a rental schedule for our clients.

  1. Collect information from your client. Be sure to collect all the supporting documentation - You can find the checklist for your client here.

  2. Ensure that all expenses are deductible.

  3. Ensure all income is declared.

  4. Complete the workpaper - You can download the workpaper here. You will need to request access.

  5. Upload the workpaper to Xero workpapers along with the supporting documentation.

  6. Add details in the rental schedule - The labels are on the income and expenses tab.

  7. Submit for review.