Don’t miss out on Depreciation in your Investment Strategy
Our friendly and knowledgeable team of Quantity Surveyors can help you get your full depreciation entitlement on your tax return. With a Depreciation Schedule in place, your investment property is covered for 40 years, allowing you to claim the loss in value of the building over time.
Asset Reports can provide a free estimate of the potential deductions on your property, created by a person, not an algorithm.
STANDARD RESIDENTIAL – $595 (inc gst)
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Explore our 3D Virtual Tour to see some example deductions available to a new furnished apartment
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Blue items come under Capital Works (Division 43)
Green items come under Plant & Equipment (Division 40)
Depreciation applies to
Doesn’t my accountant look after that?
Only a qualified Quantity Surveyor can prepare a Depreciation Schedule. An accountant can order one for you, however this may take longer and end up costing more than if you had one already prepared.
Will this just be a new fee that I have to pay year after year?
A Depreciation Schedule lasts for the life of the property (40 years). You only have to pay one initial tax-deductible fee for the schedule, and then it is yours to provide to your accountant throughout the life of your property.
I’ve owned my investment property for many years without a Depreciation Schedule in place, is it too late to benefit now?
Not at all! A Depreciation Schedule can be used to amend up to two previous tax returns to recoup missing deductions. Now is the best time to order your Schedule – if you pay before June 30, you can claim the fee as a deduction in your tax return this financial year.
My investment property is a small apartment, surely there won’t be much to deduct?
Owners of apartments are able to claim Depreciation on a portion of the strata common areas.
You can claim depreciation on:
Bricks & mortar
Carpets & flooring
Toilets & showers
Air conditioning & solar panels
White goods
Electrical appliances
Door handles & garbage bins
Pools & pergolas
Strata common areas
How does it work?
We conduct a thorough site inspection to assess the structure, fittings and furnishings at the property.
Our qualified Quantity Surveyors produce the schedule detailing your deductions for up to 40 years.
Your accountant applies these deductions to your annual tax return throughout the life of your property.
