Owners of rental properties that haven’t been claiming this one deduction could be missing out on some serious cash.

Cashflow is critical for investors right now and with tax time approaching everyone is looking for ways to legitimately boost their tax return as much as possible.

This one deduction could help super charge this year’s tax return by thousands of dollars. 


Tax Depreciation

Tax Depreciation is the deduction that you can claim for the wear and tear and ageing of an investment property.

Yearly deductions are typically thousands of dollars and it is often one of the single biggest deductions claimed by smart investors.

“Whether the property is new or old, there could be thousands of dollars of tax deductions available to owners for depreciation.  Even properties bought second-hand can have thousands of dollars to claim in the building and renovations completed over time.  Our depreciation schedules typically report $6,000 - $12,000 in deductions for the owners in just the first year.”  -  Mark Wilkins, Director of Capital Claims Tax Depreciation.

An investor can claim a tax deduction for depreciation just like any other common expenses such as:

  • Council rates
  • Bank and professional fees
  • Interest
  • Repairs and maintenance

All that is needed is a depreciation schedule prepared by a professional quantity surveyor.  Ordering a depreciation schedule is simple and the one-off fee for a 40 year report (years of reported tax deductions) is 100% tax deductible.

Bonus – If the investment property has been owned for a few years and the depreciation claims have never been made, landlords could be looking at a bumper return.  Most investors have the ability to amend returns for previous years and back-claim tens of thousands of dollars in unclaimed deductions.

Landlords can receive a personalised estimate of deductions or learn more about investment property depreciation with this free Capital Claims Tax Depreciation eBook download

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About Mark Wilkins

Mark is an expert quantity surveyor, business owner, public speaker and property developer. With 20+ years experience in the construction and quantity surveying industry Mark’s specialist expertise have been sought in consultant capacity by professional bodies such as the National Institute of Accountants and the National Tax and Accountants Association, and he has presented at various property and tax seminars and expos nationwide. Mark holds a Bachelor of Construction Management from the University of Newcastle, is an affiliate member of the Australian Institute of Quantity Surveyors and a Registered Tax Agent.

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