Rebekah has been fantastic to deal with from day one. From the day we enquired right through to our move in day, Rebekah has stayed in contact and kept us up to date with absolutely everything. She has made the process so simple and stress free. She is very approachable and understanding should any issues arise. We cannot wait for our experience to continue. B Phillips
Are you maximising your tax depreciation deductions? Many landlords are missing out on literally thousands of dollars in lost tax depreciation deductions.
What you should know:
- Your investment property does not have to be new. Most properties, both new and old, will attract some depreciation deductions. A common myth is that older properties will attract no claim. ANY property is worth making an enquiry.
- If you have been unaware of this tax deduction you can adjust previous years’ tax returns. When a property owner has not been claiming or maximising tax depreciation deductions, usually the previous four financial years’ tax returns can be amended easily.
- You need a specialist to maximise your claim. Quantity Surveyors are recognised by the Australian Tax Office under TR 97/25 as appropriately qualified to estimate construction costs of a building for depreciation purposes.
Take the time to contact your Accountant to ensure that you are receiving the additional tax deductions to the maximum capabilities. You may also need to ensure that your Accountant is utilising the deductions from a Property Depreciation Report.