81% of Australian property investors
are not claiming their full tax deductions!
Are you?
If you have an investment property, it can be depreciated. Think of it as �wear and tear�. Houses, units and commercial properties all qualify. Even older properties can be depreciated. By using an ATO recognised Tax Depreciation Schedule, property investors can claim thousands of legitimate tax dollars back on their investments, conserving their cash flow and safeguarding their future. Schedules can even be backdated so investors can claim up to 4 years of �lost� depreciation! Our alliance partners are Quantity Surveyors and have an Australia wide network of Quantity Surveyors and appropriately qualified people. Their service is cost effective and efficient.
What are the benefits?
- The fee is 100% tax-deductible. And if you pay by June 30, you can claim it back almost straightaway.
- Specialises in Tax Depreciation Schedules. This ensures that you receive the maximum tax-deductible depreciation you are entitled to.
- Provision of a comprehensive report that sets depreciation entitlements on a yearly basis for 20 years - saving you money for the next 20 years!
- The Tax Depreciation Schedules are suitable for all types of property investors - companies, partnerships, trusts, individuals and couples.
- Hassle-free - all you need to do is fill in the online application form and we will take care of the rest.
- There is even a guarantee! – “If the Quanity Surveyor can’t find more depreciation than their fee in the first full year, the Schedule is free.”
- The Schedule is transferable to future buyers if the property is sold.
- The Schedule has calculations for both the Prime Cost and Diminishing Value methods so you and your accountant can select the most tax-effective strategy.
Some Frequently Asked Questions:
- How do I order a depreciation schedule?
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Easy. You can make an on-line enquiry and get a quote. Go to the online enquiry form by clicking here. If you have any queries, a comment can be entered into the form and a representative will call.
- How long does it take to receive a Tax Depreciation Schedule?
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It usually takes 2-3 weeks to complete the Schedule. Naturally, if there are tenants residing at the property, their cooperation is essential. There may also be an extended turnaround time if the Quantity Surveyor needs to travel to a remote area.
- How much does it cost?
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A comprehensive Tax Depreciation Schedule, which provides up-to-date depreciation information for the next 20 years, costs $715 (GST inclusive). This amount is 100% tax deductible.
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Remember that guarantee, too:
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"If the Quantity Surveyor can’t find more depreciation than their fee in the first full year, the Schedule is free.”
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Note : The only time this fee will vary is if there are multiple residences (like a duplex or granny flat) or if a Quantity Surveyor needs ro be sent to a remote area. In the event of a furnished property, the Quantity Surveyor may ask supply costs for some items. For extensive loose furniture valuations there may be an additional fee. Any variations will be discussed at the time of booking.
- How much money can you claim?
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How much you can claim as a tax deduction depends on your individual tax situation. Below are some samples of actual depreciation schedule summaries:
New 2 bedroom townhouse - reasonable quality
Total claimed over 5 years: $41,829.61 |
|
Year 1
|
Year 2
|
Year 3
|
Year 4
|
Year 5
|
|
$9,447
|
$9,392
|
$8,315
|
$7,588
|
$7,087
|
New 2 bedroom CBD unit – furnished (a very up-market property)
Total claimed after 5 years: $79,382.97
|
|
Year 1
|
Year 2
|
Year 3
|
Year 4
|
Year 5
|
|
$21,005
|
$17,944
|
$15,192
|
$13,292
|
$11,950
|
Unit built pre-1985 with a $38,000 renovation done post-1992
Total claimed over 5 years: $11,473.15 |
|
Year 1
|
Year 2
|
Year 3
|
Year 4
|
Year 5
|
|
$2,979
|
$2,937
|
$2,236
|
$1,798
|
$1,524
|
- Do I need to provide much information?
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No. The Quantity Surveyor specialises in depreciation and is able to accurately estimate the cost of ‘capital works’ as well as depreciable assets. This means no receipts, plans, photos or sketches and most importantly, no hassles!
- Doesn't depreciation only apply to new buildings?
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Any building where construction started after 18 July 1985 qualifies for the 'Special Building Write-Off'. That means you can depreciate the original cost of construction. Plus, for all buildings, there are a host of depreciable assets like hot water systems, blinds, floor coverings and stoves that may be depreciated.
- Can renovations be depreciated?
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Yes. The 'Special Building Write-Off' can be claimed as long as the renovations were undertaken after 26 February 1992. Investors can also claim Architects and Engineers Fees. Structural inclusions such as retaining walls and sealed driveways, if undertaken after this date, can also qualify.
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