Claiming property deprecation is an important factor to consider when purchasing an investment property. The Australian Taxation Office (ATO) allows owners of incoming producing properties to claim deprecation for the gradual wear and tear of a building’s structure and for the plant and equipment items contained within the property.
Depreciation deductions can amount to thousands of dollars for an investor each year and is considered a non-cash deduction, meaning the investor does not need to spend any money in order to claim it.
To calculate the likely deductions available on a current or proposed investment property simply use the free BMT Tax Depreciation Calculator.
At Sondergaard Chartered Accountants we do everything possible to help our clients receive optimal returns. To ensure our clients receive the best possible return on their investment property we have formed a relationship with BMT Tax Depreciation, Australia’s leading experts in property depreciation. BMT provides a quality depreciation schedule that outlines maximised depreciation deductions for our clients. Due to our working relationship with BMT Tax Depreciation, our clients are entitled to a reduced fee. This fee is 100% tax deductible.
If you are interested in learning more about property depreciation contact one of BMT’s expert staff today on 1300 728 726. Free educational resources are also available on BMT’s website to educate investors further on the benefits of property deprecation.