Tax time, just months away !
Its March already!
Have you got your depreciation schedules in order?
Getting your tax depreciation or ‘property allowances’ right can make a real difference to reducing your taxable income, slashing your tax bill and putting more cash in your pocket.
Maximising returns
How does it work? You can claim deductions based on two allowances:
1. Depreciation assets:
These are items that lose value more quickly – such as carpet, lifts, and whitegoods. You may be able to claim up to 20% of the property’s purchase price this way.
2. Building allowances:
Depending on when your property was built, you may also be able to claim a deduction for part of the original construction or refurbishment costs.
You may even be able to back-claim previously unclaimed depreciation benefits.
Managing risk
The Australian Tax Office (ATO) requires all assessments of building works to be completed by a suitably qualified professional. That’s us! We’re Quantity Surveyors and we stay at the forefront of ATO requirements, which is worth its weight in gold.
In fact, we were the first Australian company providing specialist property taxation services – and three decades later, we’re still doing it. Plus, we’ve got offices in every major city so we’ve got you covered.
Minimise cost
Here’s some more good news. Our competitive fees are 100% tax deductible. And, if we can’t find more than double our fee in deductions for you within the first year, we won’t go ahead.
With a professionally prepared Property Depreciation Schedule, you can end up with $1000s more in your hand for the life of your property investment. Cash really is king so why spend more than you have to? It’s a great way to unlock cash and grow your property portfolio faster.
Around four out of five property investors have room to move so odds are you do to.
Imagine your future with more cash in hand
Make your property investment return more cash, year after year, with a professionally prepared Depreciation Schedule.
Investors who produce an income from residential property may be eligible to claim property tax allowances.
This means you end up paying less tax without having to outlay cash and get a bigger tax return by claiming:
- up to 20 percent of the purchase price in depreciating assets
- part of the construction costs if the property was built after 1985
- There’s no risk – if we can’t find more than double our fee in deductions for you within the first year, we won’t go ahead. Continue reading
