Depreciation Schedule for Residential Investment Properties
Owning an investment property is an opportunity for you to save tax by identifying items that depreciate over time and claiming these as deductions.
These deductions can be missed if you are not qualified and up to date with legislative and regulatory changes. Some significant legislative changes has occurred to plant and equipment effective the 9th May 2017. Please discuss this further with our office.
Prepared by a qualified Quantity Surveyor, our Depreciation Schedule makes it easy by identifying deductions you can make on the property and includes;
- Capital works deductions – structural elements like built-in kitchen cupboards, clothes lines, driveways, fences and retaining walls, sinks, basins, baths and toilet bowls
- Plant and equipment – removable assets that have a limited effective life and can decline in value over time such as hot water systems, air-conditioners, blinds and curtains, lights shades, security systems and swimming pool filters and cleaners. Some significant legislative changes has occurred to plant and equipment effective the 9th May 2017. Please discuss this further with our office.
Unlike some on the market our Schedule is ATO compliant, which means you can rely on it even in the case of a tax office audit. We use the services of Washington Brown.
You can arrange for your Depreciation Schedule by itself or as part of any of our property inspection options.
There are two ways to get your Depreciation Schedule.
Before you’ve made the purchase
A smart way to save money and time is to arrange the Depreciation Schedule before you’ve bought the property.
For only $60 we collect the required data for the Schedule when we are onsite for the building inspection.
If you proceed with the purchase we can then take this data and prepare your full Schedule, saving you time and the inconvenience of arranging access to the property again.
To save you money we will not only credit the $60 against the cost of the full Schedule ($660 incl GST) but give you a discount of $80 on top of that. That means you will only be charged $520 at the time of the full Schedule ($580 in total). That’s a SAVING of $80.00.
Please note prices are indicative and may vary by region & size of property.
After you’ve made the purchase
You may decide you can wait to assess the deductibility of the property until after you’ve made the purchase. In this case the Schedule is prepared at the standard rate of $660 incl GST and will be prepared within as little as 10-15 days.
To find out more about the Depreciation Schedule call us on 1300 767 741 or send an enquiry or make a booking