Home/Tag: BMT

Depreciation for renovations made easy

Investment property owners often miss out on thousands of dollars due to two main reasons: They don’t know what depreciation entitlements they can claim for renovations or refurbishments to their investment property They don’t use a qualified Quantity Surveyor to prepare a tax depreciation schedule Follow the steps below to ensure your tax depreciation schedule is right the first time around. Understand scrapping Scrapping refers to the removal and disposal of any potentially depreciable asset from an investment property. When worn or old assets (like carpet and hot water systems) are replaced and scrapped, the owner of the property may [...]

Earn more from your holiday rental – Tax Depreciation

Earn more from your holiday rental - Tax Depreciation It’s that time of year when many investors take a well earned break by booking a holiday away from home with their family or friends. While they are away from home, property investors might be tempted by opportunities to purchase a holiday rental as an investment. Before making a decision to dive in and purchase a property, investors should seek advice from relevant professionals such as a Property Manager, an Accountant, a Financial Advisor and a Quantity Surveyor. This is because investors often decide to purchase a holiday rental [...]