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Value of all kinds of perishable properties depreciates. Even the land erodes and house property has depreciation of value effect. There is also an edge of advantage to this depreciation apart from the defect that it causes to the assets. This value depreciated in the form of physical loss can be counted as in the financial terms and can be advantageous to the one who owns the property. Tax Depreciation is a process of devaluing the assets as they diminish in value overtime. It has specific calculation method and it requires a qualified tax depreciation specialist to the calculations.

Depreciation on a residential or commercial investment property is a non-cash deduction, meaning investors do not receive money back, instead claiming depreciation on an investment property will lower the investor’s assessable income. This may result in being a placed in a lower tax bracket. By this the owners or the investors in the property have to pay lesser tax than he or she has been paying for. A depreciation schedule prepared by a specialist Quantity Surveying firm such as BMT Tax Depreciation helps to ensure that you are maximizing the cash return from your investment property.

Being an owner of an investment property you’re allowed to claim depreciation on your building and its fixtures and fittings. Depreciation claiming is a considerable taxation advantage, and unfortunately majority of investors are unacquainted of. Depreciation is actually a non-cash deduction – and spending any money to claim it is not required. When a building becomes older and items inside it get deteriorated, they actually depreciate in worth.

The Australian Taxation Office (ATO) permits property investors to claim a rental & investment property depreciation deduction associated to the building, plant and equipment items enclosed within it.

The ATO has defined over 1500 items as depreciable assets. So as to claim such depreciation tax deductions, investors are motivated to enroll a qualified Quantity Surveyor to shape a comprehensive, personalized tax depreciation schedule. A depreciation schedule stipulates the deductions possible on a particular property for the life of the property and is utilized by the Accountant of property investors in tax return preparations.
Tax Depreciation Schedule by Licensed Quantity Surveyors
We proffer the best price for getting your depreciation report computed. Our profound Surveyors will revert to you within 24 hours of your request.