Client Name and Unit Number have been altered for privacy. Matt came to Washington Brown looking to maximise his tax depreciation deductions. Having recently moved to Australia from the UK, Matt rented out the family home in England when they left. The house was originally built in 2005 and was purchased for £400,000 in 2010. […]

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 […]

Top * changes to property depreciation laws Under the new Depreciation Tax Law Changes, property investors who acquire a second-hand residential property on or after 10 May 2017 that contains “previously used” assets will no longer be able to claim depreciation on those eligible assets. In this case, existing assets include ovens, dishwashers or blinds. […]

Depreciation and Natural Disasters: Everything You Need To Know A natural disaster could have a devastating effect on your investment property in Australia. You may need to get a new depreciation schedule to account for any repairs you make. Here’s what you need to know. You cannot underestimate the effects natural disasters can have on […]

Property depreciation is one of the largest tax deductions for homeowners in Australia. But did you know that you can backdate your property’s depreciation? Doing so could save you thousands of dollars every year. As an investor, you need to take advantage of all the tax deductions Australia has to offer. Property depreciation deductions allow […]

Many see granny flats as an easy rental property investment. For beginners, they offer the opportunity to start investing, without spending too much money. As with any investment property, you must remember to claim for the depreciation of your assets. Tons of people like the idea of buying an investment property. Australia offers plenty of […]

So how does commercial property really stack up against residential in relation to depreciation? While we have covered the differences between the two, there are also some similarities. For example, the higher the quality of the commercial property the higher the depreciation. And the taller the building in commercial property, the higher the depreciation allowance. […]

How Much Does a Depreciation Schedule Cost? Typically, you could expect to pay between $385-$770 for a depreciation schedule. Your fee will vary based on the property type, location and complexity. $500-600 is a fairly standard price for an established, residential home. In these circumstances, the properties aren’t brand new. This usually means you’ve purchased […]

It’s hard to believe, but we’re approaching that time of the year again – tax time! As the end of the financial year draws closer, you’ll likely start thinking about that big fat tax refund and what you can do with it. But first you need to make sure you maximise your cheque. To help […]

If you’re not an accountant, or this is your first depreciation schedule, reading all those figures can be a little daunting. Of course you could just give the report to your accountant and let them sort out your claims for you, but maybe you want to understand how you’ve saved all that money! There are […]