With residential depreciation legislation changing in May last year, there has been some confusion amongst property investors and industry professionals and many have been wondering if second-hand properties can still claim tax depreciation.
As a property investor are you expecting a tax refund due to a negatively geared investment property? Did you know you can access that refund in advance, or in real time during the financial year to improve your cash flow each month?
Accountants are not qualified to estimate construction costs, which includes more than just materials & construction labour. For example, accountants are not qualified to estimate construction works & associated costs of previous works over the[...]
Fact 1. Depreciation is typically one of the largest deductions available to property investors
Averaging between $2,500 - $5,000 for an existing house and $10,000 - $13,000 for a brand new[...]
It doesn’t matter how recently you bought your rental property – even if it was just a couple of weeks out from the end of the financial year – it’s always worth getting a depreciation schedule done sooner rather than later.
Knowing what expenses to claim on your investment property at the end of financial year can be confusing for many landlords and investors. Below is a general guide you can use to check and discuss with your accountants and advisers.
The Australian Taxation Office (ATO) allows commercial property owners and tenants to claim tax depreciation for the wear and tear of their building, and for the depreciation of their plant and equipment assets over time. What many commercial[...]
As referred to in previous articles click here, the amendments to legislation about claiming depreciation has changed the timing of claims for second hand Division 40 assets. Previously, the depreciation deductions for these assets could be[...]
Does the change in legislation affect your ability to claim depreciation on your investment property this year?
Still not sure how the new legislation affects investors ability to claim depreciation?
Every day we are fielding questions from investors and their advisers who are unsure if they should be claiming depreciation on their investment property[...]