Every investment property owner needs a capital allowance and tax depreciation report. As a building gets older and items within it wear out, they depreciate in value. The ATO allows property investors to claim a deduction related to the building, plant and equipment items contained within it.
Any owner of an income producing property can claim depreciation. This deduction essentially reduces the investment property owner’s taxable income – they pay less tax! There are usually thousands of dollars to be claimed in depreciation deductions on any investment property.
There are many benefits for investors when claiming tax depreciation, some include:
More money in your pocket at tax time.
You can adjust your previous tax returns – get your money back from the ATO!
The fee for a tax deprecation report is 100% tax deductible.
BMT Tax Depreciation makes the process as easy as possible for investors, gathering all information and preparing the report with a turnaround time of 5-7 days from the inspection.
Click here for the BMT Tax Depreciation Calculator