We know that claiming depreciation deductions is one of the best ways to get the best return from your investment property. Despite this, BMT Tax Depreciation see investors failing to claim lucrative partial year deductions each financial year. Partial year depreciation deductions can boost cash by thousands in just a few...
There are many reasons why investors miss out on claiming property depreciation. Sometimes they believe their property is too old, or they don’t think depreciation is available if the property was only leased during part of the year. A new trend that BMT Tax Depreciation has uncovered is that investors...
Statistics from the Australian Taxation Office (ATO) say that residential property investors claimed a total average depreciation deduction of $3,748 during the 2016-2017 financial year. Many property investors are missing out on significant deductions that can improve their cash flows. Are you one of them? Given the differing advice available to investors,...
With tax time fast approaching, here are five tax time tips to ensure you maximise the deductions for your investment property. Understand what deductions you’re entitled to As a property investor, you’re entitled to a range of tax deductions. These will help lower your taxable income and make owning an...
Shared assets in strata title lucrative for investors A strata title is used when individuals own part of a property usually called a ‘lot’. This is generally an apartment, unit or townhouse complex which shares ownership of common property including driveways, foyers and gardens. The ownerships are combined through a legal entity...
A Quantity Surveyor is a professional who specialises in estimating the value of construction costs and other assets. Quantity Surveyors may get involved at various stages: prior to construction, during construction and post-construction. We use our skills to determine the cost of building works and fit-out, whether we’re looking at...
Encourage them to claim depreciation deductions Owners of income-producing properties are eligible for significant taxation benefits and yet some of the perks continue to fly under the radar. Research shows 80 per cent of property investors are failing to take full advantage of property depreciation and are missing out on thousands of...
BMT Tax Depreciation specialises in maximising depreciation deductions for investment property owners Australia-wide. Every investment property should have a tax depreciation schedule completed for it. By unlocking the cash flow potential in an investment property, owners can save thousands of dollars every year in their tax return. BMT work with Accountants, property...
Most first-time property investors soon discover that they need a tax depreciation schedule and require a Quantity Surveyor to supply one. But what is a Quantity Surveyor and how do we come up with your depreciation deductions? Usually Accountants or property professionals like a Real Estate Agent or Property Manager will...