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By BMT Tax Depreciation
August 7, 2011
As many Australian property investors lodge their tax returns this year, they will be missing out on thousands of dollars in deductions.
Make sure you claim the maximum tax depreciation deductions you are entitled to -you’ll appreciate the extra cash flow!
What is depreciation?
As a building gets older, items wear out – they depreciate. The ATO allows property owners to claim this depreciation as a deduction. Depreciation can be obtained by any property owner who obtains income from their property.
Depreciation facts:
- Almost 80% of property investors are missing out on thousands of dollars in depreciation deductions from their investment property
- Your investment property does not have to be new – older properties also have good depreciation potential
- You can adjust previous years tax returns – go back and claim your money from the ATO!
Obtaining a depreciation report that maximises deductions may result in your investment property returning a positive income.
Qualified under tax legislation TR97/25 to estimate construction costs for depreciation purposes, Quantity Surveyors are one of a select few professionals who specialise in providing depreciation reports. Make sure you use a depreciation specialist like BMT Tax Depreciation, to prepare your depreciation report.
100% Tax Deductible Fee
And don’t forget – even the fee associated with the preparation of a tax depreciation report is 100% tax deductible.
BMT Tax Depreciation specialise in maximising tax depreciation deductions for investment property owners Australia wide. If you have any queries about your property’s depreciation potential, please don’t hesitate to contact BMT for obligation free advice.
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