Property Depreciation Schedules - The New reality

The future of office buildings…

Is the office as we know it dead? MUCH has been said about the future of workplaces since COVID-19 forced some major changes to office life as we know it,  kicking flexible work practices into gear. At this stage, no one really knows how offices will look in the future as uncertainty still abounds, but […]

How the new depreciation laws affect depreciation on old property

There is a common misconception in the property market that you cannot claim depreciation on old properties. This is wrong, and I can prove it! The origin of this myth centres on the fact that you cannot claim building depreciation on residential properties where the construction commencement date is before 1987. This is a true […]

Discounted Properties: The Six Things You Need to Watch Out For

When trying to figure out how to invest in property with little money, many new investors look toward discounted properties. However, there are some risks you must keep in mind. Foreclosure is an ever-present risk for Australian homeowners. Failure to meet your mortgage repayments could result in your lender taking possession of your property. It’s […]

Discover the Benefits of Investing in New Homes

Your Investment Property in Australia Doesn’t Have to be Pre-Owned Whether you buy an old or new property is one of the key decisions you’ll have to make when buying an investment property in Australia. Both have their advantages. With an old property, you can often secure a great deal, plus there’s potential to renovate […]

How Much Will Your Depreciation Schedule Cost?

The Price May Vary Depending on Several Factors The fee you’ll pay for a depreciation schedule will vary. For example, you may pay anywhere between $275 and $800 for the report. This is a fairly standard price for an established residential home. All these properties aren’t brand new. This usually means you’ve purchased it from […]

Finally, Some Clarity

On Friday 14th July, the Treasury Office released a draft bill regarding how depreciation deductions on a second-hand property can be claimed moving forward. They also invited interested parties to make submissions. It’s complicated, to say the least, so I’ve tried to simplify this Bill and the key points. Here are my 9 Key Takeaways […]

Tips & Tricks of the Depreciation Trade

9 Ways to Cut Tax Bills Through Depreciation Firstly, what is property depreciation? Well, just like you claim the wear and tear of your car against your taxable income or the wear and tear of the desk in your office, you can claim the wear and tear of your property against your taxable income. But […]

The Depreciation Party Is Over

The depreciation party is over… Well, kind of! In an attempt to “reduce pressure on housing affordability” the Government has announced dramatic changes to the way depreciation is claimed on property. Let’s start with the good news: 1.  Any existing investment properties purchased (contract exchange date) prior to May 9 2017 are not affected (unless they […]

Old vs New Properties to be Depreciated

Old vs New Some people prefer to invest in brand-new properties, while others opt for older ones that they can renovate and re-sell for profit. So, which is the better investment strategy? Let’s have a look at some of the pros and cons of buying brand-new and almost-new properties. And depending on your investment strategy, […]

Depreciation Old Investment Property

I often get asked, “Can I claim depreciation on my very old investment property?” The simple answer is yes, but this is where a lot of investors make a mistake. There are two components to a depreciation schedule Quantity Surveyors prepare on your investment property. The Building Allowance The first component involves claiming what’s called […]