Furnish your pockets with the funds claimed from depreciation
Often property investors rent out their property fully furnished. Depreciating furniture can add thousands of dollars to the owners depreciation claim.
The below table provides an example of the difference that claiming depreciation on a $16,000 furniture package could make to an investor who purchased a two bedroom two bathroom unit:
It is important that a specialist Quantity Surveyor prepares a tax depreciation schedule for an investment property before the owner lodges their tax return.
A Quantity Surveyor will carry out an inspection on the property to identify more plant and equipment items and apply depreciation legislation to maximise depreciation deductions for the owner.
BMT Tax Depreciation is the Accountants preferred supplier of tax depreciation reports. They complete reports for over 10,000 Accountant referrals each year, with reports showing an average of $5,000 to $10,000 as a first full year deduction.
BMT Tax Depreciation also guarantee to double their fee worth in deductions in the first full financial year or they will not charge for their services.
To find out more about property depreciation, visit the BMT Tax Depreciation property investor page here or contact one of our expert staff for obligation free advice on 1300 728 726.
Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS) 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.