Buying property? Then this blog is for you!!

This blog helps the property buying community to more easily share strategies, stories and helpful tips. It is an open blog. Anyone can join, contribute and invite others to join.

If you would like to talk property, please contact us:
Office: 1300 911 576
Martyn Fleming: 0400 000 822
Guy Clarke: 0409 055 128

07 April 2008

Have an Investment Property? Do you have the right tax advice?

Probably not the most exciting topic for most investors. Yet, it's a commonly overlooked area, which can really make a difference with your portfolio's performance.

Many investment property owners are not aware of huge benefits property depreciation can have on reducing the amount of tax they pay.

A tax depreciation specialist conducts inspections of your investment property and provides you with a fully comprehensive report detailing the depreciable items claimable. Your accountant then utilises this report to maximise the return on your investment.

Is your accountant suitably qualified to do this?
No. The Australian Taxation Office (ATO) have deemed accountants as 'not appropriately qualified' to conduct estimations of construction costs. The ATO recognises Quantity Surveyors as 'qualified persons' to provide expertise in estimating construction costs.

Examples of deductions from actual Tax Depreciation Schedules:

3 Bed Townhouse 10 years old Good Quality
$13,750 - Depreciation
$20,125 - Building allowance
$33,875 - Total tax deduction claimable over 5 years.

3 Bed House Pre 85 - 50k Renovations Average Quality
$11,003 - Depreciation
$ 6,250 - Building allowance

$17,253 - Total tax deduction claimable over 5 years.

Don't have a suitably qualified Tax Depreciation Specialist?

Call us today on 1300 727 586!

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