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Research shows that 80 per cent of property investors are failing to take full advantage of property depreciation and are therefore missing out on thousands of dollars in their pockets. One of the reasons depreciation often gets missed is because it is a non-cash deduction – the investor does not need to spend money to claim it.
As a building gets older, items wear out – they depreciate. The Australian Taxation Office (ATO) allows property owners to claim this depreciation as a deduction. Depreciation can be obtained by any property owner who obtains income from their property.
Obtaining a depreciation schedule that maximises deductions may result in an investment property returning a positive income.
Quantity Surveyors are qualified under tax legislation ruling TR97/25 to estimate construction costs for depreciation purposes and are one of select few professionals who specialise in providing depreciation schedules. It is recommended to speak with a depreciation specialist to ask them to prepare a depreciation schedule for your property.
BMT Tax Depreciation specialise in tax depreciation deductions for property investors Australia-wide.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS) is the Chief Executive Officer of BMT Tax Depreciation.
Bradley joined BMT in 1998 and as such he has substantial knowledge about property investment supported by expertise in property depreciation and the construction industry. Bradley is a regular keynote speaker and presenter covering depreciation services on television, radio, at conferences and exhibitions Australia-wide.
On average most investors can expect to receive between $5,000 and $10,000 in first year depreciation deductions for a residential property. These additional fu...Learn More
Most investors are aware of some of the deductions they are entitled to; for example, they know they can claim their Property Manager’s fees, council rates an...Learn More
Always speak to Quantity Surveyor to ensure that you gain the maximum taxable benefits available on your investment property.Learn More