Three Tips you should know about Property Depreciation
You’ve purchased an investment property; it’s now time to visit your Accountant to lodge your annual tax return. However, you may not be aware that the Australian Taxation Office allows you to claim depreciation deductions based on the wear and tear of a building and the plant and equipment assets contained within the property.
BMT Tax Depreciation specialises in maximising depreciation deductions in order for you to claim the maximum available deductions you are entitled to.
Below are three helpful tips to ensure you get the most out of your investment property.
- No property is too old to claim depreciation
- If you haven’t been claiming, you are entitled to adjust two previous tax returns
- Previous renovations can be estimated and claimed in your tax return
Happy clients Steven and Rosaria have recently become property investors. Here is what they had to say about their positive experience with BMT Tax Depreciation.
“Thank you for making something we did not understand such an easy thing to organise. Your constant communication and updates on the progress from the first phone call to arrange an appointment to receiving the schedule has been beyond expectations, definitely a great customer service experience.”
If you would like to know more about property depreciation, please contact our expert team on 1300 728 726 or visit www.bmtqs.com.au.
Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS) is the Chief Executive Officer of BMT Tax Depreciation.
Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia-wide service.