Maximise the CASH RETURN on your investment property with BMT Tax Depreciation
It’s the start of the new financial year and many investors are preparing their annual income tax return. The Australian Taxation Office allows owners of income-producing properties to claim depreciation deductions for the natural wear and tear that occurs to a building and its assets over time.
Depreciation deductions relating to the building’s structure can be claimed as a capital works, while plant and equipment assets refer to the easily removable fixtures and fittings within the building such as hot water systems, carpets and blinds.
Following the 2017 depreciation legislation changes, brand-new property generally holds the most lucrative value for investors from a tax perspective. Most brand new properties are eligible to claim depreciation deductions for both capital works and plant and equipment assets.
Investors should engage a specialist quantity surveyor such as BMT Tax Depreciation to discuss the depreciation potential of any investment property they own or are planning to purchase.
BMT can provide a comprehensive depreciation schedule outlining the deductions investors are eligible to claim over the lifetime of their property.
BMT has a relationship with Lifecorp and offers a special reduced rate of $385 including GST for tax depreciation schedules for brand new properties.
For more information, Request a Quote or speak with one of the expert team at BMT Tax Depreciation on 1300 728 726.
Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation.
Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia wide service.