Tax Depreciation Schedules

What is Depreciation?

Depreciation is the amount of money you can "write-off" (claim as expensed or used up) against the value of any assets used in the course of producing assessable income.

In the case of property investors, investors may offset their taxable income against expenditure on plant and equipment used to produce assessable income.

Plant and Equipment includes items such as Ovens, Dishwashers, Carpets Blinds, Lifts, etc. The ATO provides specific guidelines as to how these write-offs are to occur.

Who Can claim the Depreciation?

Depreciation can be claimed by the owner of the Plant and Equipment, the one who is earning income from the use of these items.

For more information on Tax Depreciation Schedules please click here 

Four Reasons - Why YOU Should
Have A Professional Depreciation Schedule
For Your Investment Property

1. "Legitimatise" Your Depreciation Claims

ATO Warns Property Investors to ‘Get It Right’.

Accountants and Valuers are not allowed to prepare a schedule under the ATO Rulings, and if you prepare your own schedule that is incorrect, the risk of heavy fines is far greater. Also The federal government is spending an extra $216.4 million to assist in the enforcement of Tax Compliance Rules on taxpayers, and the focus is heavily on real estate. By having an external, independent and professional person prepare your Depreciation Schedule the authenticity and legitimacy of your claims are enhanced.

2. Maximise Your Claims With a Thorough & Accurate Depreciation Report

Defining the applicable taxation rulings on items to be included in the Depreciation Schedule can be confusing as can determining the value of these items. Not getting this right could cost you money by limiting the number or the amount of deductions claimed.

3. Fixed Fee

We offer a fixed fee service for either a unit or house, furnished or unfurnished. This gives you the advantage of no hidden charges that may apply from other companies.

4. Tax Deductible

The preparation of Tax Depreciation Schedules is 100% tax deductible, which is a minimal outlay for the return you receive by way of tax deductions.