Property Depreciation Schedules - The New reality

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 […]

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 […]

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 […]

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 […]

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 […]

Property Investor Buys James Packer’s Property

So, I’ve just heard the news that James Packer sold his multi-million dollar home, and a property investor buys it! Forgive my bit of journalistic license here as I’m not sure if Dr Chau Chak Wing has purchased the property as an investment, but he is a property investor and developer.  Now, based on the […]

What are the Tax Deductions from Airbnb?

Have you ever thought about renting a room out in your house on Airbnb for a few extra bucks? I know I have. Airbnb, in case you haven’t heard, is a website that allows you to offer short term accommodation to others, or, you stay at someone else’s place. You can become a mini hotel […]

Depreciation I Can Claim On My Rental Property

What depreciation can I claim on my rental property? Just like you claim wear-and-tear on a car purchased for income-producing purposes, you can also claim the depreciation of your investment property over time against your taxable income. There are two types of allowances available: depreciation on Plant and Equipment, and depreciation on Building Allowance.  Some […]

We Help Property Investors Achieve Their Dreams

We help property investors achieve their dreams Over the last couple of years I’ve become a bit of a seminar “junkie”. It used to always be property seminars but the last couple of years it been more business seminars. After 20 years in business, every now and again I need a kick up the bum! […]

Should you be Claiming Depreciation on your Overseas Property?

Claiming Depreciation on Overseas property More and more Australians are investing in property overseas due to the Australian dollar being high and some countries’ economies being much weaker than Australia’s and showing a down turn in their property markets. But can you still claim depreciation if your investment property is not in Australia? The answer […]