End of Financial Year Statements

Frequently asked questions

What is an End of Financial Year (EOFY) Statement?
An EOFY Statement, also known as a Tax Summary, is an Income and Expenditure Statement that provides homeowners with a summary of their income (such as rental payments) and expenses (such as management fees and repair bills). This statement includes the sum of all transactions that were reported on, in previously prepared Ownership Statements, within a financial year.
What are the cut off times for rent payments to make it into my 2024 EOFY Statement?
Rent payments made by your tenants will appear in your EOFY Statement if they pay with:
  • Direct Debit by 6:00 pm AEST, 26th June; or
  • Credit or Debit Card by 10:00 pm AEST, 30th June.
Rent payments made after these dates will appear in next year’s Tax Summary.
What are the cut off times for bill payments to make it into my 2024 EOFY Statement?
In order for your bill payments to make it into your EOFY Statement, you must make payment by the below cut offs:
  • Direct Debit by 6:00 pm AEST, 26th June.
  • Credit or Debit Card by 6:00pm AEST, 26th June.
Bill payments made after these dates will appear in next year’s Tax Summary.
What are the cut off times for payments made into the trust account to make it into my 2024 EOFY Statement?
If your renters pay the rent via the agency's trust account, the cut-off times will be as below:
  • For EFT payments receipted by 11.59 pm AEST on 30th June.
  • For cash payments presented by 11.59 pm AEST on 30th June.
  • For cheque payments presented by 11.59 pm AEST on 23rd June.
How do I access my bills for the financial year?
Within the EOFY year email and PDF Statement sent by Ailo, there will be a ZIP file link to download the bills processed and uploaded through Ailo during the financial year. Remember you can also access your bills at any time with your Ailo App.
Can anyone, including my accountant, access the link to my bills?
Yes, anyone who you choose to forward the link to will have access to the ZIP file of your bills processed and uploaded through Ailo.
How are the expense categories in my EOFY statement determined?
The expense categories shown in your EOFY statement are the same as the tax categories that were entered by your property manager when creating bills.
Why do I have to pay a service fee to use Ailo?
Paying bills with rental income is free; you only pay a service fee if you choose to pay bills with a different payment method, such as a credit card, debit card, or with direct debit. The service fee is tax deductible and covers the cost of external payment processing fees, including merchant service fees and payment gateway fees.
Can my statement be updated?
No, Investor statements are artefacts that reflect the status of your portfolio as of the statement generation date. Once generated, they cannot be altered or updated.
Why did I receive two EOFY Statements?
Your agency invested in a new payment system (Ailo) during the financial year. As a result, you will receive two EOFY Statements separately this year. One statement will reflect the income and expenses processed through the old payment system, and the second statement will reflect the income expenses processed through Ailo, the new system. These will need to be combined to total all expenses and income for the fiscal year.