A TAX DEPRECIATION SCHEDULE
is a document prepared by ATO Compliant Quantity Surveyors that outlines the depreciation allowances an investor is entitled, and enables your accountant to maximise your tax benefits. Please seek tax advice from your accountant.
There are two possible types of depreciable deduction – capital works and plant and equipment
Capital Works refers to structural improvements made to a property, while plant and equipment allowances are applied to items such as carpet, air conditioning, hot water units and curtains.
All depreciation schedules include both Diminishing Value and Prime Cost methods. Please consult your Accountant for tax advice as to which method is best suited to your requirements.
ARE YOU ELIGIBLE?
If you own an investment and/or rental property – then yes you are.
BENEFITS TO LANDLORDS
Monies saved by a Depreciation Schedule can go towards periodic maintenance, renovations, improvements thus obtaining higher rental or you can use it increase your property portfolio.