Jack Lawrence Accountants and Advisors recognise the importance that tax depreciation deductions can have on an investor’s cash flow.
For this reason we recommend that investors speak with a specialist Quantity Surveyor to ensure their deductions and correct and maximised.
Below are a few quick points about depreciation investors should be aware of:
- Investors can claim an average of $5,000-$10,000 in residential property depreciation deductions in the first full financial year alone
- Tax returns for the previous two financial years can be adjusted if you have not been claiming depreciation
- Every investor should request a tax depreciation schedule. The owners of both new and old investment properties can save thousands
- The fee for a tax depreciation schedule is 100 per cent deductible
Specialist Quantity Surveyors can provide a free depreciation estimate of the likely deductions for any property purchase or potential investment.
Simply by obtaining a depreciation schedule you could save thousands and put more money in your pocket.
Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation. Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia-wide service.