Where did we put that Billiard table?
Do not make the mistake of assuming that others know what they are looking for.
Did you hear the one about the Senate enquiry into two disappearing billiard tables?
These two tables used to be located in the parliament’s staff recreation area and when it was realised that they had disappeared a senate enquiry ensued to find out where they had gone and importantly $100,000 was spent to find the tables that had been sold for a sum total of $4,900.
How does that fit with you as a tax payer? Continue reading
Is it time for a Napier & Blakeley Health Check?
Recently Napier & Blakeley completed a health check on a client’s existing depreciation claim. In one tax year the client added $300,000 cash to their tax return. 
If we can do this to one years return what else could you and your investors be missing out on ?
Do not make the mistake of assuming that others know what they are looking for.
Napier & Blakeley are the original experts in property depreciation; would you trust your health to anyone but an expert?
Call us today to talk about your options. Continue reading
End of Year Investment Property Tax List
Property Tax Deductions are available as follows:
- Depreciation of plant – such as air conditioning and mechanical ventilation, some electrical items, lighting, carpets, lifts, furniture and fittings.
- Building Structure (Capital Allowances) for investment properties constructed after July 1982, or for refurbishment, renovations, additions alterations after that date.
Now answer these questions…
- Have you got a current depreciation schedule? If not Napier & Blakeley are qualified to establish values for the depreciating assets that you own.
- Have you bought an investment property throughout the tax year?
- Have you altered, renovated or added to your existing investment property throughout the tax year?
- Have you demolished all or parts of your investment property?
- Have you changed, added to or thrown out any items of fitout or FF & E during the financial year?
The establishment of a compliant depreciation schedule allows you to calculate your entitlements to Depreciation and Capital Allowances deductions and to manage the process of change to your asset. Continue reading
Have you been band-aiding your Depreciation & Asset Registers ?
The past few years have thrown many challenges the way of private practice accountants, as well as those working within the property trust markets. Whether it’s been the rush of buying as we saw in 2007/08 period or the sell that has occurred in most recent times. It has been very hard to keep control and track of capital expenditure. It’s even harder when many never engage with the building or the people that manage assets directly. Now that we are in the world of hold and manage assets, it’s probably time to stop making do and to get engaged!
Napier & Blakeley, long recognised, as the market leader in property depreciation, see so many depreciation schedules that are not maintained as they should be. Assets that have long been removed from site still being depreciated and quite often representing large sums of money.
It is a regular occurrence and easy thing to do to simply adopt the vendors depreciation schedule. Tax law, however, allows a purchaser to apportion values to all depreciating assets they acquire, i.e air conditioning, lifts, carpet, chattels, etc to reflect the cost of the asset as acquired by the purchaser. In a rising market this may even represent a value that is more than its original replacement cost. Continue reading
Muscle up and wrestle your tax back…
It’s here again, the end of the financial year, a time for collating all of the financial happenings over the past 12 months and thinking about new beginnings from 1st July. Or as is the case for many in the property industry, preparing accounts and reports for share holders, as it is just the beginning of the reporting period.
Napier & Blakeley are the original experts in property depreciation deductions – we will make sure that you do muscle up and receive the maximum benefits available to you through depreciation and capital allowances. Our experience is second to none in the market place and our track record speaks for itself. So let us wrestle on your behalf.
It’s at this time every year that we provide an update of the legislative goings on in the accounting area of property depreciation and over the past 12 months there have been a few. Continue reading
Is your existing Depreciation Schedule just a Placebo ?
There have been a few movements in the area of depreciation over the 2010/11 financial year overall, though there are not that many changes over the past 12 months that you should be concerned about… or is there?
Below is an example of a depreciation schedule, a client asked Napier & Blakeley to provide a health check on, with regard to the dollar value of their depreciation claims.
This property relates to a strata property purchased in a capital city CBD area, the building was a number of years old.
The numbers below are the actual figures.
Continue reading
Property Depreciation and Natural Disasters
Over the last 6 months, with the unfortunate spate of different Natural Disasters occurring Napier & Blakeley have been requested from numerous clients what effect does it have on their existing and future capital allowances for their investment properties.
The question arises where funds from a third party such as an insurer pays for capital works.
No Insurance
Where there is no insurance claim, then all demolished capital items may be written off from the date of demolition. All newly installed and refurbished costs may be claimed once works have been completed.
Tip – ensure you keep all records of expenditure including all associated on costs such as skip hire, professional fees and the like.
The tax return deadline is fast approaching, maximize your depreciation deductions today and for the life of your investment!
It’s tax time again and so soon “it seems like only yesterday’ we can hear you all saying. 
Napier & Blakeley have prepared depreciation schedules for property investors for over 25 years and are the most knowledgeable company in Australia in this space, having introduced this service to the Australian property market and developed it into what it is today.
Our clients are many and loyal and are always impressed with our expertise and our efficiency, maximising their after tax property returns, creating more free cash flow and actually assisting them in structuring and managing the future of their asset.
Every year we are ready at this time of year to deliver your property depreciation needs efficiently, as we know it is tax time and we understand what investors need and how to assist them with their annual returns.
So you think you can’t afford it
A number of our articles have covered a variety of individual topics in isolation but in reality they’re all inextricably linked providing the platform for balance and maximum return from your property investments.
Our affordability index provides an amalgamation of a variety of property information to provide a balanced look at how your asset might perform over a period of time and how you can influence that performance.
Whether the investment is residential or non residential the same basics apply –
§ How much is it going to cost me
§ What risks are involved
§ What return will I secure
These questions then have multiple layers – how much is it going to cost me initially and in the short and long term, what kind of costs are they, capital, repairs and maintenance, refurbishment or compliance costs. What must I do legally, what must I spend to benefit and retain the tenant.
What you need to know at tax time
If during the current financial year you owned an investment property and earned an assessable income from it then you are entitled to tax deductions for wear and tear or depreciation as it is more commonly known.
Over the last 22 years Napier & Blakeley has analysed many thousands of properties, preparing depreciation schedules for owners of virtually every type of property ranging in value from a few hundred thousand dollars to in excess of one billion dollars in value.
There are well in excess of one million property investors within Australia and we suspect that the majority of property owners in Australia do not fully maximise the deductions which can significantly affect and increase their after tax yields.
In a recent analysis of a five year old commercial office building with a purchase price of $5m, a land value of $1m and an income of $500,000 we found the following.
