Tax Depreciation Reports
From $423 +GST
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What is a Tax Depreciation Schedule?
Under the ATO (Australian Taxation Office) tax legislation, if you have a property that generates income, you are eligible to claim depreciation of the building, fixtures and fittings in the form of a tax depreciation schedule. This amount is offset against your taxable income so you pay less tax and that means more money in your pocket.
You can benefit from a Tax Depreciation report when investing in:
- A New Property
Construction of a new building or purchase a new property
- An Existing Property
Purchasing an existing property
- Renovation and extension to Existing Property
The renovation work or extension work can be carried out by yourself or by a previous owner
Examples of deductions available
Here is the range of actual deductions based on previous projects. The tax depreciation benefit available will vary greatly based on different building types, its purpose, the year in which it was built, and quality of the finishes and fixtures.
|Property Type||Purchase Price||1 Year Depreciation||1-10 Year Accumulated Depreciation|
|3–Bedroom Residential house||$420,000||$14,500||$105,000|
|Old Property with Renovation||$410,000||$7,000||$43,000|
From only $423 +GST