Property Depreciation Schedules - The New reality

What is a Depreciation Schedule?

Property depreciation is a legal tax deduction related to the ‘wear and tear’ of an investment property over time. A tax depreciation schedule outlines the deductions you may be entitled to claim each year of ownership on the Building Allowance (the structure itself including bricks, concrete, etc.) and, if eligible, on the Plant and Equipment […]

Building Allowance Maximiser

 Let’s talk about bricks and mortar. Or what the Government calls the Building Allowance. Whilst you can no longer claim depreciation on plant and equipment in second-hand investment properties, that’s the things like ovens, dishwasher etc. You can still claim the structure of the building, that’s the bricks, concrete, windows, tiling, etc. provided the […]

Budget Changes to Depreciation

The 6 must-know takeaways from these budget changes: For residential property, you will only be able to claim depreciation on plant and equipment items (ovens, dishwashers etc.) when you buy a brand new property.  You will still be able to claim the building allowance (bricks, concrete etc.) on any residential property built after 1987. If […]

Budget Depreciation Changes

Peter: The attendance tonight is mind blowing. In the world of depreciation, this is very much the equivalent of playing to a packed stadium. So thank you all for your interest. Tyron Hyde: Peter, I’ve never been more popular. Peter: Yeah, well. That’s right. In the quantity surveying world, this is as good as it […]

Claim Depreciation on your Overseas Property

Fancy a villa in Tuscany? What about a condo in LA or a loft apartment in New York? Yes, please! But the question everyone wants answered; can I claim depreciation on this property… The simple answer is yes! Difference between overseas and Australian property depreciation The main difference between an overseas property and one in […]

Staying Under the ATO’s Radar

Compiling the report properly A depreciation schedule on your investment property can generate significant tax savings – as long as it has been complied correctly. In my experience there are three main areas the Australian Tax Office tends to target come tax time. 1. Repairs and maintenance One of them is whether you’ve claimed repairs […]

Is the Future of Depreciation Near?

How does depreciation affect your future? (UPDATE – Read about the 2017 Budget changes to depreciation here). Whilst the depreciation laws in this country are quite complex, I believe they are well-balanced and offer property investors realistic benefits. However, there is always room for improvement on the current property depreciation formulas. As a quantity surveyor, […]

What a load of Scrap!

Whenever I am delivering a presentation or conducting a webinar, I always make sure to leave time for a 30 min Q&A session at the end. In most Q&A sessions, the topic that by-far receives the most queries has to do with the concept of “scrapping” in relation to property tax depreciation. Claiming the Residual […]

Depreciation on Holiday Homes

Go on holidays and claim depreciation! The ATO has recently announced a crackdown on property investors over-claiming deductions on holiday homes, this includes depreciation. If you’ve been on holidays, it’s very easy to get caught up in the romance of owning your own holiday home. Purchase price, stamp duty and mortgages offset by the rental […]

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 […]