Tax
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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