Deductable expenses

Rental property expenses that can be claimed in the year they were incurred include: advertising for tenants; mortgage discharge expenses; bank charges; pest control; body corporate fees; property agents' fees ; cleaning; repairs and maintenance; council rates; bookkeeping fees; electricity and gas; security fees; gardening and lawn mowing; insurance; postage; interest on loans; telephone calls and rental; land tax; some legal expenses; travel expenses; lease costs; and water charges.
Expenses that taxpayers cannot claim in respect to rental flats are mostly those not actually incurred by the taxpayer, such as water or electricity charges borne by the tenants.
The Institute Of Chartered Accountants In Australia says you are generally entitled to claim deductions from the time the property is available for rent, even if it is not rented.
However, for it to be "available for rent", you must make active and genuine efforts to rent the property during the period, such as having the property listed for rental with an estate agent.