AussieQS provides property tax depreciation schedules to improve your investment property cashflow. A property tax depreciation schedule could be the difference between a cashflow positive and cashflow negative property. Owners of residential and commercial investment properties will be able to maximise property tax depreciation deductions with our schedules.
Property depreciation is frequently missed by investors, this could lead to a loss of thousands of dollars that is meant to be claimable. AussieQS can assist with preparing tax depreciation reports for any financial years that were missed in the past.
Why choose us?
– We are registered Quantity Surveyors (AIQS) and registered with the Tax Practitioners Board (TPB), our property depreciation reports are therefore compliant.
– We have extensive experience and knowledge on property tax depreciation to maximise value for our clients whether it is for residential property investment or commercial property investment.
– The process is made straightforward for our clients, we do the detailed property depreciation analysis.
– Our property depreciation schedules are prepared over the building lifecycle (40-years) using both decline in value and prime cost methods.
– We have many repeat customers and are recommended by accountants and property developers for property tax depreciation.
– We will provide free property depreciation consultancy advice prior to preparing the schedule.
– Our fees are tax deductible and can be claimed together with your tax return.
What does it entail?
A property tax depreciation schedule includes depreciation of both building (Division 43) and plant and equipment (Division 40) over the property’s lifecycle.
Property depreciation is a decline in value tax deduction for an investment property.
These tax depreciation schedules can be prepared at any time in the year, it does not have to be done together with your tax return.
This allows our clients to understand how much they could save for the current and future financial years.
We also assist clients with preparing schedules where depreciation was not claimed in the past on investment properties.
If you have done any renovation works to your investment properties you may also be able to claim for this.
How long does it take?
We have a quick turn-around for our clients and aim to have each property depreciation report done within 7 working days.
Property Depreciation Examples:
Property investors could save thousands of dollars annually through claiming property tax depreciation. AussieQS has found on average investors are able to claim $5,000 to $10,000 in depreciation expenses for existing properties and around $15,000 to $20,000 for new properties per year over the first couple of years. Each property has to be assessed individually as there are several factors to take into consideration.
If you want to find out more information on why you should choose AussieQS for your depreciation reports, please also read the article titled, Why choose and AussieQS Depreciation Report?
Contact us now and see how much you could save on your investment property. Prior to 31 October 2020 we are offering $50 off on our services, simply include ‘AussieQS 2020’ in your message to us.