Washington Brown

KL Accountants Clients

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WHY CHOOSE US

TESTIMONIALS

WHAT OUR CLIENTS HAVE TO SAY

VERONICA MORGAN

"You don’t just get one done when you buy brand new…and every time I do some improvements to a property I get a new one done. It’s been fantastic from a tax perspective"

LESLEY WILLIAMS

"My property is about 10 years old and [I received a depreciation] of around $10,000… they are really efficient, it was just seamless."

DIPAL PRAJAPATI

"I had one brand new property off the plan and received around $12K …and the second one i had was an old property but i got roughly 6-7K for my first year"

TRUSTED AND FEATURED BY

• Smart Property Investment
• Your Investment Property Magazine (Yipmag)
• Domain.com.au
• Australian Property Investor Magazine
• realestate.com.au
• Money

BUSINESSES WE'VE WORKED WITH

• Lend Lease
• Meriton
• RP Data
• John Holland
• CBRE
• Commonwealth Bank

FREQUENTLY ASKED QUESTIONS

• What is Property Depreciation?

  Property depreciation allows you to claim a tax deduction for the wear and tear over time on any old or new investment property. It allows you to claim on the construction costs of the building itself, e.g. concrete and brickwork (Building Allowance), and, in some circumstances, investors can also claim on internal items like ovens and carpets (Plant and Equipment).

  As with any tax deduction, property depreciation basically reduces your taxable income. That means more money in your pocket to reinvest in your property or to spend on yourself or your family.

• How does a Depreciation Schedule help me?

  A depreciation schedule is a comprehensive report that helps you pay less in tax. The amount the depreciation schedule says you can claim effectively reduces your taxable income because it’s taking into account how much it costs you to own and maintain the property.

  While you may be used to claiming back on such items as council rates where you have paid money towards an item or service, depreciation is a “non-cash deduction” because it’s the ONLY deduction that you don’t have to pay for on an ongoing basis.

• How do the 2017 Federal Budget changes affect me?

  The good news is that if you purchased a commercial property, brand new property or a property in a company name, you can continue claiming depreciation as you would have before the Budget.

  If you purchased a second-hand, residential property in your name or SMSF after the 9th May, 2017, however, you can no longer claim depreciation on the “previously used” plant and equipment. You can still claim deductions on the building allowance (bricks and mortar) of the property, which typically represents 85% of the total construction costs.

  Submit an estimate request above and one of our depreciation experts will determine how much value a depreciation schedule will be for your particular property - no obligations.

• How accurate are your Depreciation Reports?

  Washington Brown has nearly 40 years experience in the industry. As trusted appointees of major banks like the Commonwealth, Suncorp and St. George, we have access to real historical construction cost and planning data only panel members can obtain. In addition, our digitally powered quality assurance process - the TAXMAX500™ − evaluates every property across over 500 variables, and is constantly updated as Australian Taxation Office (ATO) policies change. That guarantees you maximum returns.

• Does Washington Brown offer a guarantee?

  We are so confident about the quality of our depreciation schedules that, for properties built after 1987, we guarantee twice our fee in deductions within the first 12 months after settlement or the report is free. In other words, you double your money or you pay nothing.

• Is my property too old to claim depreciation?

  If your residential property was built after the 16th of September 1987 you will be able to claim the Building Allowance on the property. Generally this element alone will provide you with thousands of dollars in deductions.

  If construction on your property commenced prior to this date, you can only claim depreciation on Plant and Equipment (i.e. carpet, blinds, ovens etc.).

  Commercial and industrial properties are subject to varying cut off dates. Contact us for more information.

• How long will it take to complete my schedule?

  We pride ourselves on our efficient and friendly customer service. With offices all around Australia, we undertake to inspect your property within two weeks of the appointment being booked, which is a far better response time than other companies offer. We also have a 7 Day Turnaround Guarantee − Once the inspection is complete and all required information received, we promise you a depreciation report on your Australian Residential property within 7 days or we’ll reduce the fee by 50%.

• Does Washington Brown do depreciation on commercial properties?

  Washington Brown provides professional depreciation advice and reports for buyers, owners and sellers of commercial property. Our commercial property clients range from individual investors, institutional investors, superfunds and private companies.

  We have a specialist commercial property depreciation team, solely dedicated to servicing the needs of commercial property investors.

  Our commercial depreciation team have experience in a wide range of commercial property including:

  • Hospitality
  • Industrial warehouse
  • Retail
  • Commercial office space

CALL NOW TO GET A FREE DEPRECIATION QUOTE

1300 990 612