Body corporate fees and charges
Are you paying body corporate fees for your rental property? Not all body corporate fees are immediately deductible. The Australian Taxation Office have created a fact sheet to step you through the different types of funds a body corporate may raise and the timing of deductions available to you.
Strata title body corporates are constituted under the strata title legislation of the various states and territories. The body corporate maintains, manages and controls the common property on behalf of owners.
It decides the amounts to be paid by the owners to make sure the body corporate can operate (body corporate fees). You may be able to claim a deduction for body corporate fees and charges you incur for your rental property.
View the below fact sheet to understand what you can and can’t claim.
