QS Corner Tip Archive | Washington Brown

Property Depreciation Schedules - The New reality

Corporate blog QS Corner Resources

Tyron Hyde is director of Washington Brown and has over 15 years experience in the construction and development industry. Considered one of Australia’s leading experts in property tax depreciation, Tyron regularly presents at industry conferences and events and has published numerous articles on tax depreciation and property investment. Tyron has a Bachelor in Construction Economics from University of Technology Sydney.

Cheap Depreciation Schedule

Tip #81

Cheap Depreciation Schedules

I was recently asked by my Adwords consultant “Should we make the word Cheap a negative keyword?” What that means is, when people searching in Google for “Cheap Quantity Surveyor” or “Cheap Depreciation Schedule” our ad won’t show. The Little Mr. Competitive in me pondered this for awhile, but eventually decided that yes, we should […]

Tax Calculation on a tablet

Tip #80

Tax Max 500

As a property investor, the more depreciation you can claim – the more affordable your property investment will become. And that’s because it reduces it your taxable income. At Washington Brown, we guarantee to get you the maximum depreciation every time. Our digitally powered quality assurance process – the TAXMAX500™ – evaluates every property across […]

New Quantity Surveyor Website

Tip #79

How cool is our new website!

Every few years I think it’s important for companies to take a “long hard look” at themselves. And that’s exactly what we’ve done at Washington Brown in creating our new website. It’s taken over a year from start to finish, and there were times during the process that I wanted to pull out what hair […]

London Skyline

Tip #78

London Property Depreciation

Washington Brown has always had a connection to London. Read why the London connection continues to make us smile.

Tip #77

Sydney Property Market Crash

Are you able to predict market crashes? Tyron gives away his number 1 reason why the Sydney property market won’t crash.

Holiday Rental Depreciation packed bag

Tip #72

Holiday Rental Depreciation

It is possible to collect rent, claim depreciation and enjoy the great getaway a holiday house can bring but there is a catch…

Tip #71

Who is accountable

We were recently asked by a client “Do you take responsibility for your reports?” and I wanted to share our response.

Tip #70

Report Preparation Takes time

The ATO recognises that it’s not always that easy to get a report done, but we aim to fix that…

Before and After Unit Renovation

Tip #69

Body Corporate Levy Trick

Learn about a little trick your body corporate could use to help you get more for your investment rental…

Angry person regarding Building Allowance

Tip #68

Rant: P&E not Building Allowance

It’s about time for a rant! The ATO’s classification makes some seriously bad assumptions…

Tip #67

Airbnb and Property Depreciation

Discover how you can still claim property depreciation renting part of your home… but there is a BIG but!

Tip #66

3 things you may not know about Depreciation Schedules

Make sure you get this QS Corner as it’s filled with something that may have stopped you getting a deprecation report and saving a lot of money

safety first sign

Tip #65

Tax Time Precautions

It’s tax time and these helpful hints will help keep the ATO at pay when claiming your investment property deductions.

Tip #64

9 Property Investing Tips

Tyron makes his family property real estate investment tips public knowledge. Remember these for maximum return on your next investment property.

Tip #63

Repair vs Capital Improvement

A builder is not always thinking “How can I itemise this Tax Invoice in order to maximise my clients’ tax return?”, but with the right advice, you can check that you get it right to make your claim.

holiday house

Tip #62

Claiming Depreciation on a Holiday House

Don’t get carried away with that holiday feeling… While banking on a tax depreciation on your holiday house is allowed, it’s not all fun in the sun.

Tip #61

Helping Property Investors achieve their dreams

Ty’s new found fondness for conferences leads him to a revealing discover about his own business.

Passing Files Depreciation Schedule

Tip #60

Previous Owners Depreciation Schedule

The answer to the regularly asked question “Can I use a depreciation schedule from the previous owner?”

laptop: Building Construction Date

Tip #58

Building Construction Commencement Date

Tyron gets out his monocle and goes on the hunt for building commencement dates. Learn his trade tricks in this tip…

Tip #57

Rental Property Yield

To yield or not to yield? – That’s the question.

Tip #56

Flipping Property

Discover two common property flipping techniques and how they can be effected by property depreciation.

News Broadcast Title

Tip #55

Property Value Pack

Learn about a very special offer from Washington Brown when ordering your next property depreciation report.

Tip #54

ATO Tax Audit

Learn what you should be keeping in regards to your proof of expenses, when claiming property depreciation with the ATO.

Tip #53

Popular Depreciation Method

An alternative method to calculate and schedule the depreciation of your property.

Tip #52

Popular Depreciation Method

Did you know there are 2 different ways to schedule the depreciation calculation of your property over time?

Tip #51

Depreciating Construction Costs

Did you know that you can claim a selection of the expenses associated with the development of your investment property?

Tip #50

Old vs New Investment Property Decision

What are the depreciation benefits of buying brand-new versus almost-new investment properties?

Renovation

Tip #49

Claim Depreciation on Older Renovated Properties

Can you claim depreciation on an older renovated property?

Tip #48

Buyer Beware

We discover there are unregistered firms providing depreciation reports. Be aware!

Tip #46

Property Depreciation Book

Australian Quantity Surveyor, Tyron Hyde, has published a book for Australian Property Investors looking to save thousands on tax.

Holiday House Depreciation

Tip #45

Is it Possible to Claim Depreciation on a Holiday House

Use your holiday house to make money and save you money at the same time and still enjoy your holidays away. Read on to see how.

Tip #44

Small Business Assets Depreciation Regime

You don’t need to own property to enjoy the TAX savings that the Small Business Assets depreciation regime can return. Read about a report prepared for a Central Queensland motel.

New Video Series for Property Investors

Tip #43

New Video Series for Property Investors

Tyron tells the reasons why he’s launched the new Washington Brown YouTube channel and what can expect to see. Have you subscribed?

Tip #42

Different Types of Property Surveyors

An explanation of the difference between the various professionals that can put a price on aspects of your property.

Tip #41

Depreciating Renovations

Most property investors now know you cannot claim building depreciation for old properties. But what if your property was built before 1985 and has been renovated?

Tip #40

Overseas Depreciation Claim

Dream about your own Villa in Tuscany? In this issue we learn about property depreciation when investing overseas…

Tip #39

Increased yield through a Granny Flat

Increasing the yield of your investment property with a Granny Flat and, while making an income, claim depreciation…

Tip #38

Depreciation is the Icing on the Cake

Surprising advice from a Quantity Surveyor on considerations to make when buying investment property…

Tip #37

ATO Property Compliance Monitoring

The ATO announced they will be using data matching techniques to target Property Investors, we speculate target areas…

Mobile Tax Depreciation

Tip #36

Mobile Property Depreciation App

Over 20,000 people have download Australia’s first Property Depreciation iPhone App, see what’s in store next for mobile property depreciation…

Tax Accountant

Tip #35

Tax Working Group

Government Tax Working Group established for potential changes to the way building depreciation allowances could be treated.

Depreciation Difference

Tip #34

One Year Depreciation Difference

A little-know ATO “loophole” closes, but there are still cases where 1 year matters.

Tip #33

RP Data Integrate Depreciation Calculator

Real Estate investors are able to engage property investors in the tax benefits offered by particular properties thanks to Washington Brown and RP Data.

Tip #32

Play By The Property Buying Rules

Rule Number 1 – Never lose money. Rule Number 2 – Never forget rule Number 1?

Tip #31

Property Tax Refunds

Save $57,350 now or over 40 years – which would you choose?

Cut your Tax

Tip #30

Capital Gains Tax (CGT)

$1,000,000s get paid in Capital Gains Tax that shouldn’t – how can you reduce your CGT?

Tip #29

Pay as you Go Withholding Tax

Remember Cash is King!! And this issue shows you a way to keep the flow going that you may not have considered before.

Tip #28

Property Tax Deductions

Is the Australian Tax Office monitoring property investors and the deductions they claim?

Tip #27

Buying Property Young

Strategies the youth of today want to use when buying their first property.

Tip #26

Super Fund Depreciation

Property Depreciation inside a Super Fund – So should I?

Speedo Quick Return Investment

Tip #25

Immediate Tax Write Off

Even if your portion of a more expensive item is under $300, you can still write it off…

Tip #24

Taller Buildings Attract Higher Depreciation

Some of the services required as buildings increase in height are obvious, such as a lift…

Mobile Phone Depreciation Calc

Tip #23

Tax Depreciation Calculator for Android

Australia’s first property depreciation app is now available on Android.

Tip #22

Overseas Property Purchases

With the Aussie Dollar riding so high for such a long period, have you thought about buying property overseas?

Fences and Structural Improvement Claims

Tip #21

Structural Improvement Claim Years

Did you know? that in order to claim the depreciation of the work external to the main residence, construction must have commenced after the 26th of February 1992.

downsizing

Tip #20

Less is more

There are 3 main reasons why lower priced property often has a higher depreciation ratio in relation to the purchase price.

Washington Brown iPhone iOS App

Tip #19

Depreciation Calculator iPhone App Launched

The Property Depreciation App aims to provide you – the Property Investor – with an estimate of the likely tax depreciation deductions available on certain properties.

Tip #18

Make the most of the GFC

When depreciating an investment property, the original construction cost must be used.

Tip #17

What can you depreciate

With tax time just around the corner – let’s make sure you’re getting every possible cent!

Talk to the hand - no

Tip #16

What can’t you depreciate

Not all construction costs are eligible for depreciation – heres some of the things that don’t qualify.

Tip #15

Free Depreciation Estimates

Are those “free” depreciation estimates from your developer up to scratch?

Lady with a Plan

Tip #14

We Depreciate Our Own Office

Washington Brown moves from Crows Nest to the centre of Sydney. Read how we claim $35,000 instead of $5,000 in our $200,000 fitout.

Tip #13

Home Insurance

In light of the recent tragic floods, many people, including myself, have looked at their insurance policy to see what they are covered for.

Tip #12

Look at Depreciating Commercial Property

There are three major differences in relation to the depreciation of commercial versus residential property.

Tip #11

Question your investment property deprecation provider

The property tax depreciation industry has just received a major shake up. And as an investor – you need to know about it. From now on, anyone who produces property depreciation reports – must also be a Registered Tax Agent.

Road Sign: Full Speed Ahead maximum property depreciation up front

Tip #10

Claiming the maximum property depreciation up front

When you receive a depreciation schedule you have a choice to make. You have to decide whether you want to claim the depreciation based upon the Diminishing Value method or the Prime Cost method.

Tip #9

Slowing down depreciation

When you receive a depreciation schedule you have a choice to make – claim the depreciation based upon the Diminishing Value method, or the Prime Cost method.

Tip #8

Depreciation is the icing on the cake

If you’re buying an investment property, depreciation should not be the initial focus of your attention. You should be focusing on things such as: future infrastructure, potential rental yield, vacancy rates in the area and how you can improve the property.

Tip #7

Investment properties attract tax benefits

If you buy a residential investment property where the construction commenced after 18 July 1985, you can claim depreciation on things like the brickwork, concrete, etc. This can add up to thousands of dollars in tax deductions.

Tip #6

Staying out of the ATO’s firing line

The Australian Taxation Office (ATO) is ramping up client compliance monitoring by writing to 110,000 property investors who have purchased an investment property this year.

Eco House Depreciation

Tip #5

It’s not easy being green

When the Henry Review was recently released most property investors breathed a sigh of relief. Unfortunately, one big area completely overlooked by the Henry Review was in relation to accelerating GREEN Depreciation.

Tip #4

Estimating is more than just an educated guess

There are two sides to the property depreciation puzzle. As an investor you’re entitled to claim depreciation on the wear and tear of particular items (such as ovens, blinds, carpets etc) along with the construction cost of the building itself – provided building commenced after July 1985.

Tip #3

Quick guide to depreciation allowances

Washington Brown has created Australia’s first and only tax depreciation calculator that allows you to estimates the potential depreciation deductions before you buy a property. But what if you are building a house – what are the likely depreciation deductions then?

Tip #2

Common mistakes preparing a depreciation schedule

Builders are good at building. But that doesn’t necessarily make them good at maximising the depreciation allowances you are entitled to. That’s why if you have contracted a builder to construct your investment property, it still pays to have a quantity surveyor prepare a depreciation report for you.

Tip #1

Maximise your property depreciation allowance

This month I’ll discuss the depreciation implications of buying a renovated property. Most property investors now know you cannot claim building depreciation for properties that are constructed before July 1985.