Depreciation Schedule Saves Property Investors Money

Will a depreciation schedule help maximise my tax savings on my investment property in Tasmania?

Suppose you are a single property investor or a residential, commercial or industrial property developer.

In that case, Washington Brown Quantity Surveyors can help you maximise your tax savings on your Hobart investment property.

Besides Hobart, we also cover these regional areas in Tasmania: Launceston, Devonport, Ulverstone, Georgetown, Sandy Bay, Burnie, Kingston, Sorrell, and Moonah.

For over 40 years, we have provided tax depreciation advice to property investors. Our team of experienced quantity surveyors are members of the Australian Institute of Quantity Surveyors.

Why do I need a tax depreciation report?

As an owner of investment property in Tasmania, you can legally claim depreciation against your taxable income. A professionally prepared tax rental depreciation schedule can save you thousands of dollars in tax savings.

Did you know:

• all properties (new and secondhand) qualify for depreciation
• you can backdate your tax return if you have not claimed or maximised your entitlements!

How much will I save when I receive my Hobart depreciation schedule?

Try our exclusive online tax depreciation calculator. You’ll get a free estimate of your potential tax deductions in a few short clicks.

What items can you claim in a depreciation schedule?

You can claim two types of allowances with a depreciation report.

1. The Plant and Equipment assets. These are items like carpet ovens and dishwashers. Since these items wear and tear quicker, allowing you to claim quicker. After the recent law changes, you can only claim these assets if they are brand new.
2. The Division 43 Capital Works Deduction. You can claim the structure of the building at a flat rate of 2.5% per annum based on the original construction cost.

Why choose Washington Brown to prepare your Hobart Depreciation Report?

Washington Brown is an expert in tax depreciation reports for residential and commercial properties in Hobart and Tasmania. One of our qualified building inspectors will visit your property to assess its claimable assets if an inspection is necessary.

Because of property depreciation law changes in 2017, not all investments now need an inspection.

We will then prepare a detailed report on your property. You or your accountant will use this report when preparing your annual tax return.

Making sure you get the best advice about tax depreciation is our goal. We encourage you to read our FAQs about property tax depreciation schedules and our article about the role of a Quantity Surveyor.

Why should I choose Washington Brown?

• Local Hobart knowledge and experience
• We guarantee to maximise your tax savings!
• Your report will be free if we don’t save you twice our fee in the first full financial year.
• 40+ years of experience – we assess over 12,500 properties per year for depreciation allowances!
• We stand by the accuracy of our Hobart quantity surveyors.
• Our team of tax depreciation experts are members of the Australian Institute of Quantity Surveyors and registered tax agents.