[
Attn Property Investors: Pay Less Tax This Financial Year With Property Depreciation
Do you own an investment property? Want to find out how to end up with more cash in your pocket at tax time? The answer is property depreciation!
If you’ve got an investment property (that’s producing an income), you could be eligible to claim a property depreciation deduction to account for the aging of the building and the items it contains. This deduction applies to the building structure as well as items within it such as ovens, air conditioners, carpet, curtains and more.
Think you might be entitled to make a claim? You need to speak to a professional Quantity Surveyor with the authority to assess entitlements under the Capital Works Allowance (Division 43), which applies to structural elements of a building, and Plant and Equipment (Division 40), which applies to removable assets. These Quantity Surveyors will visit and evaluate your property and provide you with a Tax Depreciation Schedule outlining exactly how much depreciation you are entitled to each year, for the life of your property.
All you need to provide a Quantity Surveyor to get started is:
- Your settlement date
- Purchase price
- Contact details so the report can be carried out
BMT Tax Depreciation Quantity Surveyors are offering Urban Insider readers a free assessment of any property situation and a reduced tax depreciation report fee of $600 + GST. Please contact BMT to take advantage of this offer and find out what property depreciation you can claim today.
Urban Insider Pages are sponsored by local businesses. If you’d like to feature your business on Urban Insider, find out more here.
Leave a comment