Tyron Hyde Tyron Hyde
Author

About Tyron Hyde

Tyron Hyde is the CEO of Washington Brown Quantity Surveyors. He is regarded as one of the industry's leading experts in property tax depreciation, is regularly quoted in the media & asked to speak at conferences.

Tyron hosts a podcast called "Ten with Ty" where he interviews Australia's most successful investors as a lasting legacy for his daughter and followers, teaching them how to build and maintain wealth.

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Tyron has a Degree in Construction Economics (UTS) and is a Fellow of the Australian Institute of Quantity Surveyors. He began his career at Washington Brown in 1993 as a wide-eyed intern looking for a break in the industry. Twenty eight years later, he is now the sole owner of Washington Brown Depreciation Pty. Ltd.

With his passion and knowledge of property depreciation, Tyron is a regular speaker at industry conferences and is often quoted in national media. He has also published numerous articles and books including his popular Keep Claiming It book.

Director at Washington Brown Depreciation University of Technology Sydney Property Depreciation, Quantity Surveyors

Investment Property Depreciation
#Depreciation Report #Quantity Surveyor Report #Tax Depreciation Schedule

Tax Depreciation Report Sample

You can view a Washington Brown sample depreciation schedule by clicking on the following link: Tax Depreciation Schedule Example

Depreciation Schedule Example

This example report indicates what you could expect to receive if you ordered a depreciation schedule for your property (to get a free quote, click here).

From this depreciation schedule sample, you can see that you will be provided with two methods of claiming depreciation on your investment property:

  1. The diminishing value method of depreciation – fast tracks your deductions, so you claim more in the early years of ownership.
  2. The prime cost method of depreciation – spreads your depreciation claims out more evenly over the life of the property.

The example depreciation schedule also breaks the construction of a building into two components:

  1. The building allowance component of the building – which can be claimed at 2.5% per annum; and
  2. The plant and equipment component of the building – which is claimed at varying rates.

From the depreciation schedule example, you can see the varying rates that the plant and equipment items – like blinds, air conditioning, etc. – are depreciated depending upon the asset’s effective life.

UPDATE: Deductions for plant and equipment items may only apply to commercial properties, brand new properties if you bought the property prior to May 9, 2017, or some other exceptions – Read about the Budget changes here.

If you’ve purchased property after May 9, 2017, and want to find out if you’ve been affected by these legislation changes – request a free review of your property by one of our tax depreciation specialists and find out how much you could expect to claim in deductions.

Once all the depreciation calculations on these items are complete, the tax depreciation schedule example clearly shows how much can be claimed using each method into a broken down year-end summary of amounts to be claimed based upon the financial year.

The Australian Taxation Office has identified Quantity Surveyors as the appropriate body to estimate costs where the costs are unknown.

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