On this page, we hope to cover the questions you may have, and include an example EOFY Statement to explain how to read your own statement.
EOFY Statement FAQs
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 Investors 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 within the financial year. |
What are the cut off times for rent payments to make it into my EOFY Statement?
Payments made by your Renters will appear in the EOFY Statement if they pay by:
Rent payments made after these dates will appear in next year’s EOFY statement. |
What are the cut off times for bill payments to make it into my EOFY Statement?
In order for bill payments to make it into the EOFY Statement, these bills must be paid by the cut offs noted below:
Bill payments made after these dates will appear in the next year’s EOFY statement. |
What are the cut off times for trust account transactions to make it into the EOFY Statement?
The cut-off time for Ailo Trust Accounting transactions to show in the current financial year statements is:
Any trust receipts that are created after these cut-off times will appear in the next year's EOFY statement. |
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. |
Under which fee category will my EOFY fee be charged?
If you have been charged a fee by your agency for your EOFY statement this will appear in your statements under the description of the fee category chosen by your agency. Typically this is either as Administration Fees or an Annual Fees. |
Do my contributions appear on the EOFY statement?
No, while contributions do appear on monthly ownership statements and the transfer summary statements under the other transactions, they do not appear on the EOFY statement. The EOFY statements only include the transactions that form the total for income and expenses incurred during the year. Any expenses where funds from a contribution were used, will still appear. |
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 for the same property?
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. |
If I have more than one investment property, will I receive a statement for each one?
This will depend on how your property portfolio is structured as at 30th June: Multi-property portfolio:
Single property portfolios:
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Example End of Financial Year Statements
Single property portfolio statement
The example below shows what a Single property portfolio statement will contain.
Multi-property portfolio statement
The example below shows what a Multi-property portfolio statement will contain.
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