Property in Lockdown? - Must Read Inspection Options

Depreciation Schedules – The New Reality

The COVID-19 pandemic has forced many businesses to reflect on “industry norms” and the way they operate. We are no exception. At Washington Brown we believe in researching each property and advising clients on the best way to approach achieving the maximum depreciation in the most cost-effective way. Since the pandemic we have individually assessed […]

Stimulus Package nothing to sneeze at

The Morrison Government has today announced a $17.6 billion economic plan to keep Australians in jobs, and to keep businesses in business in light of the Coronavirus pandemic. The Government has outlined an increase of $700M to the instant asset write off threshold from $30,000 to $150,000, and has also expanded eligibility to businesses with […]

The CGT Saver Report

    Let me introduce you to our new product, the CGT Saver™ Report – A report specifically created to prevent our clients from paying too much in Capital Gains Tax. Although you can no longer claim depreciation on second-hand Plant & Equipment Items (ovens, dishwashers, etc.), with Washington Brown’s CGT Saver™, you can claim […]

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 […]

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 […]

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 […]

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 […]

How do I know if my property too old to claim depreciation?

Is my property too old to claim depreciation? The short answer is no, you can claim depreciation on all investment properties. Depreciation is split into two categories, Building Allowance which is generally deemed to be the structure (walls, slab and roof etc), and Plant and Equipment which is generally items that are attached to the […]

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 […]

Investment Property Depreciation Tips

How to save THOUSANDS OF DOLLARS a year on your investment property taxes with these 7 Property Depreciation Tips! Depreciation can still be a bit of a mystery to even the most experienced of property investors. To novice property investors it most certainly always is. To simplify depreciation, basically, it allows you to claim the […]