Professionals Real Estate - Erskine Park
Shop 27, Erskine Park Shopping Centre Erskine Park
02 9834 3555
Professionals Real Estate - Plumpton
Shop 49 Plumpton Marketplace, Cnr Hyatts and Jersey Roads Plumpton
02 9677 1277
Professionals Real Estate - St Marys
181 Queen Street St Marys
02 9673 4422Contact us
As the owner of any investment property you’re entitled to claim depreciation on your building and its fixtures and fittings. Claiming depreciation is a significant taxation benefit, and one which many investors are unaware of. Depreciation is a non-cash deduction – you do not need to spend any money to claim it.
As a building gets older and items within it wear out, they depreciate in value. The Australian Taxation Office (ATO) allows property investors to claim a rental & investment property depreciation deduction related to the building and plant and equipment items contained within it. There are more than 1500 items identified by the ATO as depreciable assets.
In order to claim these depreciation deductions, investors are encouraged to enlist a specialist quantity surveyor to complete a comprehensive, personalised tax depreciation schedule. A depreciation schedule outlines the deductions available on a specific property for the life of the property and is used by the property investor’s accountant when preparing a tax return.
Source: BMT Quantity Surveyors
For more information, please click on the links below.