Property Depreciation

Tax Depreciation / Property Depreciation

What is it..? Tax Depreciation or Property Depreciation is the “wear and tear” on an income producing property.

Depending upon the property type and the year the property was acquired, this depreciation may be claimable over time through two main categories:

1) Capital Allowances (Division 43) which is the building structure and a property’s permanent components, building extension, structural improvement, etc.

2) Depreciation of the property’s Assets (Division 40) or better known as Plant and Equipment which is loosely defined as items that are “easily” removable.

The ATO recognises this and with the assistance of qualified Quantity Surveyors, entitles Property Investors to claim a portion of this Property Depreciation as a tax deduction each financial year.

So, why use “Better Tax Depreciations” ?

1. Maximise your Cash Return

Cashflow is said to be the key to any investment, so don’t make the same mistake as many other property investors who fail to maximise their cash return through Tax / Property Depreciation.

Whether your investment property is new or old you could be missing out on potentially thousands of dollars in tax deductions through property depreciation… Contact “Better Tax Depreciations” today to discuss your investment property with us and discover just how much depreciation you could be entitled too.

2. Use a qualified Quantity Surveyor

Quantity Surveyors are one of the few professionals recognised by the Australian Tax Office (ATO) to have the appropriate skills to estimate construction and building costs for depreciation (Tax Ruling 97/25).

“Better Tax Depreciations” is ATO compliant and registered with the Tax Practitioners Board (Registration No. 25503466) and managed by a fully qualified Quantity Surveyor (AIQS: Australian Institute of Quantity Surveyors & RICS: Royal Institute of Chartered Surveyors) with over 15 years industry experience.