Results and Outcomes of Tax Depreciation Schedules/Depreciation Reports
– Tax Depreciation Schedules (by way Depreciation Reports assists to minimise property investors’ tax liability and maximise their cash flow –
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Each individual’s circumstance is different, but generally speaking, this has enabled our clients to:
– Leverage and reinvest in new investment properties?
– Reinvest into businesses?
– Enable cash flow for family holidays?
Mathew, an experienced and registered Quantity Surveyor has been assisting clients for over 10 years. In his time he has produced countless Tax Depreciation Schedules/Depreciation Reports for his clients, assisting them to claim 100’s of thousands of dollars in tax claims (provided actual summaries).
The area of depreciation is an expert and specialised area. Registered Quantity Surveyors are best suited to assist the property investor. According to the ATO:
– Tax Depreciation Schedules are applicable to BOTH NEW and OLD properties E.g. renovations/extensions and improvements may all be deductible and can add another 40 years of depreciation.
– Individuals can amend their previous tax returns (with the ATO) for the previous 2 years to claim a current and valid Tax Depreciation Schedule.
Total Value of Claims for our Clients to Date.......and Counting
– Unique approach i.e ‘full involvement’ (from start to finish). No outsourcing or delegating to lesser experienced persons (i.e ‘site inspectors’).
– Pre and post-property settlement improvements and renovations factored in and claimable. For example, even work completed on the property BEFORE ownership may be claimable!
– Various depreciation methods used and included to allow clients the flexibility to choose to best suit their financial circumstance (through consultation with their accountant/tax adviser).
– Comprehensive ‘327 points quality assurance physical property inspection check’.
– Property ‘physically’ inspection as ‘standard’.
– A comprehensive report of; capital allowance and deductions (i.e. tax claims), estimates, summaries and graphs.
– Appended detailed breakdowns provided for your accountant/ tax advisor.
– Visual report for easier interpretation- not just numbers.
– Entire Effective Life of the Building, Plant & Equipment (up to 40 years) of maximised tax claims (saving tax and improving tax returns) included.
– Capital Works – Buildings, Structural Improvements (Division 43) is included.
– Plant & Equipment (Division 40) is included.