As June 30 approaches, it’s prime time for landlords to get their finances in order and make strategic decisions to maximise returns. The end of the financial year (EOFY) is a great opportunity to review your investment property performance and set yourself up for future success. Here are our top EOFY tips to help you make the most of this time of year. 1. Have Your Paperwork Organised Having all your records up to date makes life much easier for both you and your accountant. A tidy paper trail can also help you claim everything you're entitled to. Ensure you’ve gathered: Rental income statements Receipts for repairs, maintenance, and improvements Council rates, insurance, and utility expenses Loan interest statements Property management fees 2. Know What You Can Claim Many landlords miss out on deductions simply because they don’t realise what they can claim. Some common deductible items include: Loan interest Property management fees Repairs and maintenance Depreciation on assets and fittings Travel expenses related to property inspections 3. Look At Maintenance EOFY is a smart time to plan and action preventative maintenance. Not only does it preserve the condition of your property, but some maintenance expenses may also be tax-deductible. Think: Gutter cleaning System checks Minor repairs Safety compliance updates (like smoke alarms) 4. Review Your Investment Strategy The end of the financial year is a perfect checkpoint to assess how your property is performing: Are you getting strong rental yields? Is your property tenanted or vacant? Are you paying too much in interest? Speak to your property manager to see if refinancing, rent reviews, or new investment strategies could boost your long-term return. 5. Lock In Your Accountant Early Don’t wait until the last minute. A good accountant can help you: Maximise deductions Plan for capital gain Structure investments for tax efficiency Understand new legislation or rule changes At Wiseberry, we recognise the importance of informed landlords. EOFY is more than just paperwork — it’s an opportunity to get ahead. By being proactive and informed, you can set yourself up for a financially healthy year. Need help managing or growing your property portfolio? Speak to your local Wiseberry team today for expert advice and support.
