Each year it seems that the Australian Taxation Office (ATO) announces its resolve to target a particular area of taxation. This year, the ATO have indicated they will be ramping up investigations into rental property deductions for owners of residential property. The crackdown may pertain to a...
Recent figures from the NSW Department of Planning and Environment have indicated a surge in popularity for construction of granny flats. Their information shows that 4,818 new granny flats were built in New South Wales in 2014. Nearly double the 2,867 built in 2013 and three...
Property depreciation is a non-cash tax deduction available to the owners of income producing properties. As a building gets older, items wear out – they depreciate. The Australian Taxation Office (ATO) allows property owners to claim this depreciation as a tax deduction. Depreciation on mechanical and...
Any owner of an income producing investment property is eligible for significant taxation benefits. Despite this fact, according to the Chief Executive Officer of BMT Tax Depreciation, Bradley Beer, 80 per cent of property investors are failing to take advantage of property depreciation and are therefore...
Boost cash flow immediately upon purchase Even if a property is purchased towards the end of a financial year, a tax depreciation specialist can provide valuable deductions in this short time. To maximise the depreciation benefit of a newly purchased investment property, owners should obtain a property...
Turning your residence into an investment property Many Australian’s own their primary place of residence, but an increasing number are making the swap from living in their property to using it as an investment for their future. There are a number of key factors that should be...
One question investors often ask about claiming depreciation on a rental property is ‘how will these claims affect Capital Gains Tax (CGT) when the property is sold?’ CGT can be a complex topic for investors to understand, particularly as the answer to the above question can...
First time property investors who have never claimed depreciation before often ask just how much of a difference depreciation deductions will make to their annual cash flow. Depreciation can be quite a complex and daunting topic, but seeing a real world example really helps to explain...
On today's show we discuss more on depreciation schedules with Brad Beer from BMT Tax Depreciation. We find out if they apply to properties of all ages and how long they last. Read the transcript here: Kevin: Brad Beer joins me once again. Brad, thanks again for your time. Last time...