Claim Property Depreciation Deductions from the ATO
Real Estate Know-how
30 November 2016
The best performing property investors capitalise on depreciation deductions from investment properties and reduce taxable income.
80% of property investors and commercial property owners are missing out on thousands of dollars in depreciation deductions from their properties. This article will help you become part of the 20% who are putting more money back in their pocket.
What is Tax Depreciation?
As a building gets older, items wear out – they depreciate. The Australian Taxation Office (ATO) allows property owners to claim a deduction related to the building, and plant and equipment items contained within it. Depreciation can be claimed by any owner of a rental or commercial property. This deduction essentially reduces the property owner’s taxable income, which means you pay less tax!
Pay less tax. BMT Tax Depreciation find on average between $5,000 and $10,000 in deductions in the first full year claim.
BMT will work with any property investors’ Accountant and Property Manager to complement their services and help save you money.
Your investment property doesn’t have to be new to claim depreciation.
Older properties also attract substantial deductions. It’s worth making an inquiry regarding any investment property.
You can adjust previous tax returns. If you haventt been claiming or maximising your entitlements, the previous two financial year claims can usually be amended.
100% tax-deductible fee. The fee to organise a tax depreciation schedule with BMT Tax Depreciation can be claimed in full in your annual tax return.
BMT Tax Depreciation guarantees to find double their fee worth in deductions in the first full financial year or there will be no charge for their services.
BMT Tax Depreciation are the industry leader in providing tax depreciation schedules for the purpose of property tax depreciation. By engaging their services, investors are guaranteed to obtain the maximum legitimate deductions from their property.
For a free assessment of the likely deductions to which you are entitled, call and speak to a BMT depreciation specialist today on 1300 728 726.
To learn more about how to maximise your property depreciation claim, register to attend a BMT Tax Depreciation FREE education webinar: http://www.bmtqs.com.au/webinars.