Property Depreciation Schedules - The New reality

Claim Depreciation on Previous Owners’ Renovations

You Can Claim Tax Deductions in Australia for Previous Renovations When considering tax deductions in Australia, most investors only take their own renovations into account. It does make sense. After all, why should you be eligible to claim deductions on your investment property in Australia if you didn’t pay for the work? Perhaps surprisingly, you […]

Tax Time: What You Can Claim

Tax time is creeping up on us! So I thought I’d provide a simple list of some things that you can claim on. And that will help you save some money. If you’ve been reading this blog, you’d know by now that some things cannot be claimed as an immediate deduction. However, there are some […]

Can I DIY my own Depreciation Report?

As an expert in the market I am baffled by the number of companies that offer do-it-yourself depreciation schedules. Not only are there some potential legal issues but, more importantly, you will be missing out on deductions. The Issue with DIY Depreciation The DIY depreciation option generally gives you a tick sheet and asks you […]

When do you need a Quantity Surveyor?

Unless your property is very unusual, there would generally be no reason to speak to a quantity surveyor before purchasing a property. While you’re hunting for potential investments, you can work out the estimated depreciation for a property by using Washington Brown’s free online depreciation calculator. Once you have committed to purchasing the property, it […]

Why do I need a Quantity Surveyor?

Yes, builders are good at building. However, that doesn’t necessarily make them good at maximising the depreciation allowances you, the developer or investor, are entitled to. That’s why if you have contracted a builder to construct your investment property, it definitely pays to have a quantity surveyor prepare a depreciation report for you. In my […]

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 […]

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 […]

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 […]

Don’t DIY Depreciation Schedules

DIY Depreciation Schedules As an expert in the market I am baffled by the number of companies offering do-it-yourself depreciation schedules. Not only are there some potential legal issues but, more importantly, you will be missing out on deductions. The DIY option generally gives you a tick sheet and asks you to take your own […]

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 […]