Mastering EOFY: Key Considerations for Landlords and Property Managers

By Ashlea Skupien

As the end of the financial year (EOFY) approaches, landlords and property managers must understand how to handle GST on outgoings, especially during reconciliations. A common point of confusion is whether to add GST when oncharging expenses that were originally GST-free, such as council rates.

Even if the original expense doesn’t include GST, Australian GST law requires adding GST when these costs are oncharged to tenants. This is because oncharging is considered a taxable supply of a service. For instance, if a landlord pays council rates and bills the tenant to recover this cost, GST must be added to the charged amount.

For expert guidance on commercial property investments, including navigating GST implications at EOFY, please contact our experienced Commercial Team at Bob Berry Real Estate. Our specialised knowledge ensures seamless financial management and dependable support throughout the year.