Claiming depreciation and using a Pay As You Go withholding variation can increase your fortnightly cash flow In the lead up to the end of financial year, investment property owners will be considering what they can do to increase the return from their property. Though investors often...
The past two years’ missed depreciation deductions total $26,286 Specialist Quantity Surveyors often receive enquiries from investment property owners who have owned and rented out a property for a number of years and they have not claimed or maximised their depreciation deductions. As many investors remain...
Repairs and maintenance or capital improvements? Concerns about the cost of repairs and ongoing maintenance for an owner’s investment property can be reduced by claiming back these costs when an investor is completing their tax return. Before an investor can start to tally deductions, it is...
Consider the depreciation deductions you can claim Investors who are looking to purchase a new property often look at buying off-the plan. Buying off-the-plan essentially means you are entering into a contract to purchase a property prior to, or during the construction phase of a property...
When an owner first purchases an investment property, often they will be recommended by their Accountant, a Real Estate Agent or their Rental Property Manager to speak with a Quantity Surveyor to find out about the depreciation deductions available for their property. Many property investors are...
When an investor first decides to put their property up for rent, often they will weigh up whether it is better to rent the property unfurnished or furnished. Making this decision will largely depend upon the circumstances of the individual investor and the type of property...
BMT finds an extra $28,200 in depreciation deductions Working with Accounting Professionals, specialist Quantity Surveyors have the knowledge and construction costing expertise to accurately assess a property’s depreciation potential. This could result in a property investor claiming an extra $28,200 in depreciation deductions in the first...
One question we are often asked by property investors is, “Why does a unit obtain more depreciation deductions than a house?” Although it’s not always obvious what differences in depreciation deductions there are between property types, it can be very useful knowledge for any property...
The Australian Taxation Office (ATO) has issued a number of warnings recently indicating that rental property owners should be careful when claiming deductions. Common errors made by rental property owners highlighted by the ATO include claiming rental deductions for properties not genuinely available for rent, incorrectly...