No matter if you make profit or losses; it will count it as part of your income at the end of the financial year. It means you must prepare rental property income and expense details to do your tax lodgement. Real estate agents will provide you a summary of your rental property, and you need the ask bank for your investment loan interest as well.
You have to provide maintenance receipts of your rental property if it happened in past financial year.
The other key point is if you have new or as new rental property, it may be optimal to apply for property depreciation from your income. But you have to provide depreciation report which can be bought from authorized property evaluation agents. Depending on the structure of the property, you can have 1.2% of the value of the property deducted. This report can be used for up to 10 years.
If you manage the rental property by yourself, the rental price has to match the market price.
Once you prepare all the tasks listed above, you can easily conduct your tax form lodgement.