Washington Brown – Gold Coast Office
At Washington Brown Quantity Surveyors – Gold Coast, we’ve provided depreciation schedules and quantity surveying advice to individual property investors and developers in Gold Coast and SE Queensland for over 40 years.
We provide ATO compliant tax depreciation schedules that deliver maximum deductions for residential and commercial clients.
So, if you have an investment property in the Gold Coast area and are ready to pay less tax, get in touch with us for a free quote and find out how much you can save.
What is a Depreciation Schedule and How Will it Help Me Pay Less Tax?
Depreciation is a tax deduction available to property investors. It allows you to claim a tax deduction for the wear and tear over time on most old or new investment properties. Basically, it recognises that the building itself, plus its internal furnishings and fittings, will become worn over time and eventually need to be replaced.
As with any tax deduction, property depreciation reduces your taxable income. That means more money in your pocket to reinvest in your property or spend on yourself or your family.
As property investors, you want to get the most from your annual tax return. As industry leaders in property depreciation, we guarantee you the maximum tax depreciation on your investment property every time. Contact us for a free quote and find out how much you can save.
How much depreciation can I claim on my Gold Coast property?
The amount of your claim will depend on several factors, such as the kind of property and its age. The best way to know precisely how much or get a close estimate is to use the Property Depreciation Calculator. Easy to use and reliable, it is the only calculator on the market that generates a depreciation estimate with the simple input of a purchase price.
Insert the following details in the calculator:
- The purchase price
- Type of property
- Property age
- Date of purchase
- The location of the property (in this case Gold Coast)
Then press calculate. Once you have pressed ‘calculate’, you should be able to receive an estimate of how much you can now claim in depreciation deductions on your Gold Coast property.
How long do depreciation schedules last?
A depreciation schedule will last for 40 years, so you’ll only need to get your depreciation schedule once. The information provided in it will be liable for the entire lifetime of your property. You’ll only need to amend your depreciation schedule if you make significant changes or improvements to your property.
How long must I wait for a depreciation schedule?
Generally, the organisation of a depreciation schedule may take between 1 and 2 weeks but we do have a system to facilitate urgent requests. The most significant factor that affects how long a depreciation schedule will take is whether an inspection is necessary or not.
Is a property inspection always necessary for a depreciation schedule?
The laws have changed and not all properties now need an inspection to get he maximum depreciation claim -watch the video to learn more.
Why choose us to provide your depreciation schedule?
- We have glowing reviews and testimonials that speak of the quality of our services.
- We employ expert Quantity Surveyors who are thorough and efficient.
- We have been in business for a long time and have earned a good reputation.
What exactly is a tax depreciation report?
Depreciation schedules have two components because two allowances are claimed when you depreciate a property.
First, the structure of the building, which is the Division 43 allowance, relates to concrete, bricks, etc.
Second, the plant and equipment are easy to remove, depreciating faster, such as dishwashers, ovens, and more.
How much depreciation can I claim on the Gold Coast?
The amount of your claim will depend on several factors, such as the kind of property and its age. The best way to know precisely how much or get a close estimate is to use the Property Depreciation Calculator.
To use this excellent tool, all you have to do is enter your investment property’s details, including the purchase price, age, the nearest city, date of purchase, and standard finish.
Once you do that, the investment property depreciation calculator will provide a depreciation schedule estimate to let you know how much you can claim on your investment property. The calculator is straightforward to use; make sure all the information you provide is accurate.
Can you provide commercial property depreciation schedules?
Yes, we do provide commercial depreciation schedules in the Gold Coast. We provide all kinds of non-residential depreciation schedules to fit the needs of our clients, and we always offer high-quality services.
The good thing about commercial depreciation schedules is that you will still claim the plant & equipment allowance
Whether you are a tenant or landlord, you will benefit from having a depreciation schedule. As a tenant, you can make a depreciation claim on the fit-out. As a landlord, you can make a depreciation claims on the construction cost of the building, known as the capital works deduction.. Either way, you’ll enjoy tax depreciation and the cash flow it will help create.
Can my accountant make a depreciation schedule?
No, an accountant can’t provide depreciation schedules, as stated by the Australian Taxation Office. Quantity Surveyors are the ones with the proper skill set for this task, so our services are necessary if you want to gain from your claim.