Property Depreciation Schedules - The New reality

The Five Things Your Tax Depreciation Schedule Must Contain

An investment property tax deductions calculator won’t always show you everything you can claim. Many leave out the assets that go into a typical depreciation schedule. Here are the things that your tax depreciation schedule must contain. When it comes to tax, there’s one question you must ask about your investment property: what can I […]

Busting the 8 Myths of Depreciation Schedules

There are many myths floating around when it comes to tax depreciation. Especially regarding what property investors are entitled to claim. Below are some of the most common myths I have heard during my time as a qualified Quantity Surveyor. NOTE: Information below regarding plant and equipment items may only apply to properties purchased prior to May […]

Diminishing Value vs. Prime Cost Method

So, you’ve received your depreciation schedule – now you have a choice to make. Should you choose to claim the Diminishing Value method, or the Prime Cost method? Both methods are based upon the effective life of the asset – i.e. how long it will last. Diminishing Value Method The DV method depreciates items more […]

How to Read your Report

If you’re not an accountant, or this is your first depreciation schedule, reading all those figures can be a little daunting. Of course you could just give the report to your accountant and let them sort out your claims for you, but maybe you want to understand how you’ve saved all that money! There are […]

How do I know if my property too old to claim depreciation?

Is my property too old to claim depreciation? The short answer is no, you can claim depreciation on all investment properties. Depreciation is split into two categories, Building Allowance which is generally deemed to be the structure (walls, slab and roof etc), and Plant and Equipment which is generally items that are attached to the […]