As the end of financial year approaches, now is the time to take stock of your finances, including your home loan. Whether you own your home or an investment property, this is the ideal time to assess your financial position, review your loan structure, and make sure your current mortgage is still fit for purpose.

Rates shift, life changes, and alternative loan products emerge. What suited you years ago might no longer. Reviewing your loan every two to three years is crucial for maintaining good financial health. Below is some general guidance, along with helpful links, to steer you through what to check this end of financial year.

Home loan health check: For all mortgage holders

Many borrowers lock in a loan and forget about it – but letting your home loan sit untouched for years could quietly erode your financial position. As part of your EOFY reset, ask yourself:

1. Do I still need the features I’m paying for?Offset accounts, redraws, cheque access – are you using them, or just paying for them?

2. Has my financial situation changed?Income, expenses, employment, family size – life moves fast. Your loan should reflect your current life, not a former one.

3. When was my last property valuation?Rising property values may have unlocked equity you’re not using – equity that could fund renovations, reduce debt, or improve cash flow.

4. Am I satisfied with my lender’s service?Delays, indifference, or poor communication are red flags. If your lender treats your business as a burden rather than a priority, it’s time to look elsewhere.

5. Am I paying unnecessary fees or restricted from making extra repayments?Redraw fees, account-keeping charges, and limits on extra repayments can add up or hold you back. Check if your loan offers flexibility without the hidden costs.

If you’re unsure how to answer these questions, or if the answers aren’t giving you confidence, it’s a clear sign to speak to a broker. I can review your current loan, compare rates and features across lenders, and help ensure you’re in a product that aligns with your financial needs and goals.

EOFY checklist for property investors

If you also hold investment property, you should go a step further and prepare your portfolio for tax time. Here’s a quick EOFY checklist to help keep you on track.

1. Maximise your tax deductions

The Australian Taxation Office’s 2025 Tax Time toolkit for investors has a wealth of information about what tax deductions you can and can’t claim for your property investment.

Examples include:

• Interest on loans. You can claim interest paid on the amount borrowed, or a portion of it, that relates to earning assessable income.
• Borrowing expenses. These can include loan establishment fees, lender’s mortgage insurance, title search fees, costs for preparing and filing mortgage documents, and mortgage broker fees, among others.
• Repairs and maintenance. If you’ve replaced a worn-out fence or re-oiled the deck this financial year, you will most likely be able to claim it. Improvements and renovations are treated differently by the ATO.
• Body corporate fees and charges. You may be able to claim a deduction for body corporate fees and charges. Administration fees are usually deductable straight away, but capital works levies must be depreciated over several years once completed.
• Property management costs. Fees paid to a property manager for overseeing your investment can be claimed as deductions.

2. Document your rental income and expenses

Your tax accountant will need details about your rental income and expenses to process your tax, so make sure you have these ready by the end of the financial year.

Hopefully you’ve moved away from a shoebox of faded receipts to an online platform that allows you to store and manage your records effectively. There are all sorts of record-keeping tools out there that make it easier for property investors to keep records safe in one place.

3. Consider pre-paying expenses

If you’re expecting to be in a higher tax bracket this year compared to next, it might be worth pre-paying your investment property expenses like insurance or loan interest before June 30. That way, the tax deductions will fall in the current financial year.

You can find the 2024-25 tax brackets on the ATO website.

4. Ditch bad debts

If your tenants haven’t paid their rent, you may be able to write it off as a bad debt. This can reduce your taxable income, so it’s worth speaking to your accountant about it.

5. Plan for Capital Gains Tax (CGT)

Sold an investment property this financial year? You’ll need to plan for the Capital Gains Tax (CGT) liability.

Keep in mind that if you’ve held the asset for longer than 12 months, you may be entitled to the 50% CGT discount.

6. Don’t forget depreciation deductions

You can claim a deduction in value of depreciating assets, for example a dishwasher in your rental property.

If you haven’t already done so, get a quantity surveyor to prepare a depreciation schedule report for your investment property. This will outline the available deductions for the depreciation of the building and its fixtures and fittings. It’s another great way to save on tax.

7. Review your property’s performance and plan ahead

How did your property perform over the past 12 months? What was the rental income compared to previous years? What were the occupancy rates and maintenance costs comparatively?

If you have multiple investment properties, this may help you weed out the high-performing investments and draw your attention to those that need restructuring or further review.

Next, consider what your goals are moving forward? Maybe you want to get a second investment property, or renovate your current one to boost its rental return? If so, talk to us about your finance options.

8. Get an investment loan health check

With two cash rate cuts so far this year and a lot of interest rate movement, it’s a good time to get an investment loan health check.

The information discussed in this article is general in nature and you should always seek professional advice in relation to your individual tax circumstances. I can assist with your finance options. If you’d like help reviewing your current loan or lining up finance for a future purchase, I’m just a call away. Reach out to discuss your options and make the most of the new financial year.

When it comes to taking out a home loan, all the options can be overwhelming. Should you go with a Big Four bank or a lender that’s less known? Is it best to choose a variable home loan or a fixed-rate loan in today’s lending environment?

With so many questions to ponder, it’s little wonder why more Australians than ever are choosing to use a mortgage broker.

The mortgage broker market share hit a record high of 76 per cent in the December quarter. That’s right – three in four borrowers now use a mortgage broker to help them navigate the home loan application and approval process.

Here are some compelling reasons why Aussies are placing their trust in the expertise of their brokers, rather than going direct to a lender.

Maximise your borrowing power

Different lenders have different lending criteria, so the amount one bank will lend you may vary considerably compared to a competitor. Mortgage brokers understand the nuances between lenders and their home loan products.

If you want to maximise your borrowing power or you have a complex financial situation (for example, you’re self-employed), a mortgage broker can help get you over the line with finance.

Options that work for you

Mortgage brokers work with a wide range of lenders, giving you access to many different home loan products. A broker will take the time to understand your specific financial situation and goals, then recommend a home loan that suits your needs.

A bank, on the other hand, is solely interested in getting your business.

Access to special offers

Some lenders offer special home loans or products based on your profession. If you’re a teacher or a doctor or you’re self-employed, for example, your broker could line you up with a lender that may have special offers for you.

Brokers may also be able to negotiate a more competitive interest rate or loan terms on your behalf. However, if you went direct to the bank yourself, you’d be the one doing the negotiating.

Brokers have your back

A broker is bound by a Best Interests Duty, meaning they are legally obliged to put your interests first. That means providing home loan options that are based on your unique circumstances and goals.

Someone to do the legwork for you

For many borrowers, having someone to walk them through the pre-approval and home loan application process is invaluable. Your broker will take care of the paperwork and optimise your chances of a successful home loan application.

A mortgage broker can also answer questions at any point in the home loan journey – whether you’re curious to know what your borrowing capacity is, or you want to evaluate your home loan 12 months after settlement.

Ready to chat about your finance needs?

For most people, buying a property is the biggest financial decision of their life. You want to get it right.

Using a mortgage broker makes the process smoother and more efficient, while also potentially saving you time and money.

To explore your borrowing capacity, organise pre-approval or to review your current home loan, get in touch today and discover why three in four Aussies use a broker.

Tax time might not be everyone’s favourite season, but it it’s a great chance to tidy up your finances.

If you own an investment property, it’s important to be aware of all of the tax deductions that could be available to you and plan smartly for the year ahead. Below is some general guidance, along with helpful links, to steer you through some top tips for the season.

Know what rental expenses you can claim

As a general rule, if you’ve spent money to earn rental income and kept records, you may be able to claim it as a tax deduction.

The Australian Taxation Office (ATO) sorts rental property expenses into three main types:

• Immediately deductible expenses (in the income year you incur the expense) – like interest on your investment loan, council rates, pest control, repairs and maintenance, and low-cost depreciating items (under $300).
• Deductions over time – such as capital works, borrowing expenses, and asset depreciation over several years.
• Expenses you can’t claim – such as personal expenses if you’re living in the property some of the time or certain second-hand depreciating assets purchased after 9 May 2017.

Split expenses if the property isn’t always rented

Do you list your investment property on short-stay platforms like Airbnb? Or only rent out part of it, like a room?

In that case, you’ll need to apportion your expenses based on how and when the property was used to generate income. The ATO has clear rules on this, and getting it wrong could mean missing out—or worse, over-claiming. You can find more information about how to apportion expenses correctly in the ATO’s rental properties guide

Claim deductions spread across several years

Some expenses can’t be claimed all at once, but that doesn’t mean you should forget about them.

Borrowing expenses like loan setup fees can be claimed for five years or spread over the term of the loan, whichever is shorter. Borrowing expenses of $100 or less are deductible in the income year you incur them.

You can’t claim a deduction for capital expenditure, but in some cases, you may be able to claim capital expenses relating to your property over several years, including:

• Capital works
• Improvements
• Substantial renovations.

You can claim a deduction for the decline in value of depreciating assets used for income-producing purposes (e.g. timber flooring, carpets, curtains and dishwashers). A qualified quantity surveyor can prepare a depreciation schedule outlining the decline in value of depreciating assets for tax purposes.

Book in maintenance now (and claim it this year)

Leaving small repairs until “later” can mean waiting another year to claim them. So, if there’s any work needed on your rental, try to get it sorted before 30 June. Eligible repairs like replacing a broken hot water system, fixing a door lock, or getting pest control done may be tax-deductible if completed before the end of the financial year.

Don’t forget your loan and insurance costs

In most cases, the finance costs tied to your investment property are deductible. This includes:

• Interest on your investment loan
• Ongoing loan account fees
• Bank charges and borrowing costs

Insurance premiums may also be deductible, including cover for the building, contents, landlord liability, and loss of rent.

EOFY checklist for property investors

 ✓   Check what you can claim now vs. later
 ✓   Split expenses for part-time or partial-use properties
 ✓   Review borrowing and capital improvement deductions
 ✓   Finalise repairs and services before 30 June
 ✓   Include loan interest and insurance in your claims
 ✓   Keep detailed records and receipts

EOFY is a great time to reset and plan. The information discussed in this article is general in nature and you should always seek professional advice in relation to your individual tax circumstances. I can assist with your finance options. If you’d like help reviewing your current loan or lining up finance for a future purchase, I’m just a call away. Reach out to discuss your options and make the most of the new financial year.