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Depreciate and Appreciate
Depreciate and Appreciate Property investors who own income producing properties are eligible for significant taxation benefits. Research shows that 80% of property investors are failing to take advantage of property depreciation and are missing out on thousands of dollars in their pockets. Depreciation is often missed because it is a non-cash deduction – the investor does not need to spend money to claim it. 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:
Obtaining a depreciation schedule that maximises deductions may result in an investment property returning a positive income. Quantity Surveyors are qualified under the tax legislation ruling TR97/25 to estimate construction costs for depreciation purposes and are one of the few professionals who specialise in providing depreciation schedules. Sourced from BMT Tax Depreciation |