The Australian Taxation Office allows the owners of all income-producing properties to claim a deduction related to the building and the plant and equipment items contained within it*.
BMT Tax Depreciation specialise in maximising depreciation deductions for investment property owners Australia-wide.
This deduction essentially reduces taxable income for investors – they pay less tax.
By requesting a tax depreciation schedule, property investors can unlock their cash flow potential and save thousands of dollars every year.
BMT work with Accountants, property professionals and investors to ensure investment property owners are maximising their depreciation deductions and therefore pay less tax.
Here are a few quick points investors should be aware of about property depreciation:
•On average, investors can claim between $5,000 and $10,000 in deductions in the first full financial year
•Tax returns for the previous two financial years can be adjusted if depreciation has not been claimed
•The fee for a tax depreciation schedule is 100 per cent deductible
If you would like further information or if you would like us to arrange a tax depreciation schedule to be completed at your investment property please let us know.