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
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.
Tax Breaks for Green Buildings
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Using depreciation as a way to encourage the greening of the build environment has been a hot topic for a number of years. During the recent federal election the Labor party announced policies that included the delivery of such incentives.
Last week via their web site Labor provided a little more flesh to their approach in this area.
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.
What will you do in your summer holidays?
Summer time is a great time to take stock of your business and a great time to think about and diarise some property housekeeping issues that quite often get overlooked in the bustle of normal day to day business.
However if you consider this now, you can plan to carry out some crucial housekeeping duties in January when business is traditionally quieter.
Some of the not so sexy but absolutely essential items to consider to maximise your return and minimise your cost and risk are as follows:
Property Replacement Insurance: given the sizeable increases in construction costs in recent times, have you considered whether your properties are correctly insured? Do you know what you are insuring: base building and / or fit out?
Capital Expenditure Planning: what items have you planned over the next calendar year? How will they be managed?
Maintenance: are your maintenance contracts up to date and appropriate? Are there any routine maintenance items that can be efficiently attended to in this quiet time?
Tax and asset updates: Is your base schedule correct? Have you carried out any upgrade works during the financial year to date for which you can claim either a tax write off or a future tax deduction?
Condition Audits: Do you need to create or update any condition surveys of your tenanted properties?
Tenancy Make Good: Do you have a schedule of lease expiries that will occur during the year? Are there any “repairing and make good” obligations that need to be planned with the tenant?
N&B can assist with all of the above to help you really enjoy your summer holiday.
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.
