The costs involved in starting any new business can be quite expensive. There are expenses for stock and merchandise, insurance, staff overheads and (if you don’t own the building) funds required to cover rent. Whether you own or rent the building, there may also be costs involved in fitting out the new space to make it appropriate to open the doors for business. While it … Continue reading Kick-start your retail store by claiming depreciation
With the winter season upon us, a number of property investors may be thinking of doing nothing more than curling up under a rug in front of a wood fire with a good cup of coffee. While this might sound tempting, it’s also tax season and the perfect time to obtain a comprehensive tax depreciation schedule that ensures you maximise the deductions you can … Continue reading Items that heat up your depreciation deductions
In today’s show we answer a question from Wayne. He asks Brad Beer, from BMT Tax Depreciation, if claiming depreciation on an investment property will lower the value of the house in the eyes of the ATO. Transcript: Kevin: We’re going to answer a question now that came in from Wayne Mundy from Toowoomba. Thanks for the question, too, Wayne. Joining me to answer is Brad … Continue reading Readers' Questions: Will claiming depreciation on an investment house lower the value of the house in the ATO’s eyes?
Brad Beer, from BMT Tax Depreciation, tells us how you can make money from removing asbestos from a property and what is the most tax effective way to improve a property. Transcript: Kevin: My guest once again is Brad Beer from BMT Tax Depreciation. Brad, I want to focus this time a little bit more on some of those renovation issues that we’ve … Continue reading Maximizing depreciation for your taxes
Brad Beer from BMT Tax Depreciation Quantity Surveyors explains how, when you are renovating, you may be able to get tax benefit from what you throw away. Transcript: Kevin: Brad Beer from BMT Tax Depreciation joins me once again. Brad, thanks again for your time. Brad: Thanks, Kevin. Kevin: I’m enjoying these conversations about tax depreciation schedules. It’s an area that certainly I … Continue reading Tell me about scrapping