TrustCapital Australia put their trust in Napier & Blakeley
In June 2017, TrustCapital Australia (TCA) engaged Napier & Blakeley to undertake Vendor’s Technical and Environmental Due Diligence relating to their commercial office portfolio.
Within two weeks of instruction we had reviewed all the available documentation, inspected all the properties and provided written feedback on our findings.
We were able to achieve this using our national team of building consultants, services engineers and cost consultants, in conjunction with external environmental consultants from our approved consultants panel.
This early stage reporting provided TCA, and their Facilities Managers, the opportunity to act upon minor items of deferred maintenance and short term future repairs and maintenance needs, to help prepare the properties for sale.
While the repairs were underway Napier & Blakeley completed the final written reports.
Our reports covered the technical and environmental aspects of the property and risk assessment was facilitated by capital and maintenance forecasts over a ten year period.
Items in our forecasts are categorised by the detailed scope of the instruction along with a probability rating of the likelihood of such events occurring. Continue reading
Govt curbs property tax deductions
THE federal parliament has passed legislation to limit tax and depreciation deductions claimed by residential property investors along with a vacancy tax for foreign owners who leave homes unoccupied.
Treasurer Scott Morrison and Assistant Minister Michael Sukkar said the reforms will help address housing affordability and assist private renters.
The Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 will disallow certain deductions relating to residential investment properties.
Morrison said the changes disallow claims for travel expense deductions and limit plant and equipment depreciation deductions to assets not previously used.
Depreciation will only apply where the depreciating asset was acquired new – this reform is expected to raise $260 million over forward estimates.
The Treasurer said limiting plant and equipment depreciation deductions will remove the existing opportunities for items to be depreciated by multiple owners in excess of their actual value.
For second hand residential properties purchased after May 9, investor will only be able to claim depreciation for plant and equipment assets where the depreciating asset was acquired new for that purpose. Continue reading
