Must Read Inspection Options

Increase Cash Flow with these Depreciation Tips

Claiming depreciation is one of the most important steps in an investor’s journey. Here’s my Top 5 Tax Depreciation tips to maximise the return on your investment property. Number 1: Use an Experienced Quantity Surveyor You’ve just paid hundreds of thousands of dollars for a property. Do you really want to risk missing out on […]

You need to use an Experienced Quantity Surveyor

I’ve already touched on this, but let’s put this issue in perspective. You have just paid hundreds of thousands of dollars for a property. Do you really want to save a couple of hundred tax-deductible dollars on the only tax break available to you that can be open to interpretation and skill? The laws have […]

Can Depreciation Reports be split?

Can depreciation reports be split? Yes! So, when should you split your depreciation report: If you have purchased a property with a friend or family member, your depreciation schedule should be separated into individual reports that reflect how much you each own of that property. This will not only save you money in terms of […]

Immediately Write Off $300 and Low-Value Pooling

Having said that depreciation deductions are pro-rated depending on when you take ownership of a property, I’ll now give you an example that proves an exception to the rule. A Sydney client of ours settled on a one-bedroom Chatswood unit on June 25th last year. The property was built in 1999 and the purchase price […]

Why the Financial Year End Matters

Every one exchanges and settles a property on different days. However, the end of the financial year only occurs once. Your report should calculate exactly how much you can claim for building allowance depreciation, based upon the number of days you have owned the property in that financial year. For instance, if you settled on […]

Why you should use a Registered Tax Agent

Since March 2010, anyone who produces a property depreciation report must also be a registered tax agent. This is a good thing for property investors. I have been preparing depreciation schedules for more than 20 years now and have never seen so many “experts” entering the market over last few years. To be sure, ask […]

Buy Property the Warren Buffett Way…

From a quantity surveying point of view, it’s never been a better time to invest in property… and in this week’s QS corner, I’ll tell you why. We depreciate investment properties based on the construction cost – not the purchase price. And since the GFC I’ve seen many cases where the purchase price is actually […]

Wallabies Win affects Overseas Investment

After an early wake up on Sunday to watch the Wallabies have a brilliant victory over our old nemesis, England (commiserations guys) I was drinking my 3rd coffee of the morning and in a euphoric haze I starting to wonder to myself, how many teams are playing in this tournament? It turns out there are […]

Tips & Tricks of Property Investing

Let’s get into the tips & tricks of property investing: 1. The higher the building, the higher the depreciation Why? Because it has more of that plant and equipment stuff that I’m talking about and this stuff depreciates faster. It also has things like gyms, pools, etc. (UPDATE: Deductions for plant and equipment items may […]

The ATO went Too Far and are in the Firing Line!

Many, many moons ago all Quantity Surveyors interpreted the Tax Act differently when preparing depreciation reports. For example, some of us would say that kitchens were part of the building and others considered them to be Plant & Equipment (P&E). Generally speaking it’s better to have an item considered P&E because you can claim it […]