Tax Depreciation Services Australia
Order a Tax Depreciation Schedule now and claim back 100% of our fee for this year!
Investment Property Depreciation for Apartments, Units and Houses.
For all your depreciation needs and to be rest assured that we have all the required skills and qualifications to perform this work. We are a Registered Tax Agent with the Tax Practitioners Board and also a Member of the Australian Institute of Quantity Surveyors. For your ATO compliant Depreciation Schedules call us today !
How do you calculate Tax Depreciation ?
Tax depreciation is calculated by determining the depreciable value of an asset and applying the applicable depreciation rate or method allowed by the Australian Taxation Office (ATO). In regards to rental properties a Quantity Surveyor determines the Plant & Equipment Value ( Div 40 ) and the Capital works ( Div 43) and prepares a depreciation schedule that shows each financial year how much depreciation you can claim back. The ATO provides several depreciation methods, including prime cost method and diminishing value method, and different rates for different types of assets. The depreciation calculation can be complex and time-consuming, and it is advisable to seek the help of a qualified Quantity Surveyor.
What is Tax Depreciation on a Rental property?
Tax depreciation on rental property refers to the tax deduction claimed on the wear and tear of the property and its assets over time. As a rental property owner in Australia, you can claim deductions on the decline in value of your investment property and its contents, such as appliances, furniture, and fixtures. This tax deduction is based on the concept that assets lose value over time due to wear and tear, and the ATO allows rental property owners to claim a portion of this value as a tax deduction. Tax depreciation on rental property can be claimed on both newly built and older properties, as long as they meet certain criteria set by the ATO. To claim this deduction, you must have a comprehensive depreciation schedule prepared by a qualified Quantity Surveyor, which outlines all the depreciable assets and their value, and the depreciation deductions that can be claimed. By claiming tax depreciation, rental property owners can significantly reduce their taxable income, improve their cash flow, and increase their return on investment.
How much can i claim on Depreciation ?
There is no limit to how much you can claim on an investment property but the amount that you can claim needs to be determined by a Quantity Surveyor who is a registered Tax Agent. On average a 30 year old building without improvements could have deductions up to $2000 a year while a brand new investment property will have anywhere between $10,000 to $20,000 a year. The deductions are calculated on the original build cost of the house or unit excluding the land costs. Naturally there are many variables involved in working out these costs as it depends on the size of the property, the quality of the chattels and even the location of the residence.
Is it worth claiming Depreciation ?
Yes, it is worth claiming depreciation, especially if you own a residential or commercial rental property in Australia. Depreciation is a legitimate tax deduction that allows you to claim the decline in value of your assets over time due to wear and tear. By claiming depreciation, you can reduce your taxable income, lower your tax bill, and improve your cash flow. Depreciation is a non cash deduction as opposed to a cash deduction such as rates, insurances, interest costs and repairs and maintenance.
Areas that we cover:
Tax Depreciation Brisbane
Tax Depreciation Sydney
Tax Depreciation Melbourne
Tax Depreciation Gold Coast
Residential Tax Depreciation
We offer Tax Depreciation Reports for all types of Residential Properties.
We have experience in Houses, Townhouses, Units, Apartments, Granny Flats, Holiday Homes, Air BNB, Dual Key Homes Etc
Full Inspection Depreciation Reports
Budget Tax Depreciation guarantee the best price for a full inspection report, if you have been quoted a cheaper price then we will match it!
Our prices start from $330 plus GST for non-inspection reports to $450.00 plus GST and your property will be fully inspected by a qualified Inspector to maximise your tax deductions. To get the full allowances that you are entitled to, make sure that your property is inspected and not just a desk top estimation.
We are registered tax agents with the Tax Practitioners board, members of the Australian Institute of Quantity Surveyors and guarantee that we can find enough depreciation in the first full tax year to cover our fee and more! Have you just purchased a new residential investment property? If so, have you organised your tax depreciation report? Call us now, as you will be paying too much tax when you don’t need to! Contact us today and receive a nice surprise when you receive your tax refund.
Fast turnaround and affordable tax depreciation schedules, are you in need of Quantity Surveyor report quickly and don’t want to wait for up to 6 weeks ? on average we can turnaround your report in less than 7 working days. So if you are in need for a Tax Depreciation report to make your accountant happy, call us today!
Quantity Surveyors Report For Commercial Property
Commercial properties can offer significant tax deductions for investors, not only for the owner of the building but also tenants that own their own fit-outs.
To claim these deductions you need a qualified Quantity Surveyor to inspect your property and to prepare a Tax Schedule that is suitable for your Accountant. Budget Tax Depreciation have the experience with all types of commercial properties and offer the most cost effective solution to your needs.
Commercial Property Tax Depreciation
We offer Tax Depreciation Reports for all types of Commercial Properties.
We have experience in Shopping Centres, Warehouses, Offices, Shops, Cafes, Fast Food Outlets, Childcare Centres, Gyms, Farms, Hotels and Motels Etc
Experienced Quantity Surveyors
Our area of expertise is tax depreciation. We have the local knowledge and skills to ensure your schedules are accurate. Our local qualified inspector will provide you with the most comprehensive inspections, and schedules that will maximise your end of year financial returns.
WE ARE HERE TO HELP YOU MAXIMISE YOUR RENTAL PROPERTY DEPRECIATION
Owning rental property can be very profitable as you well know. At the same time, if you do not take full advantage of every deduction available, you can end up paying far too much in taxes at the end of the financial year. At Budget Tax Depreciation, our specialists have only one goal in mind: to help you realise all property tax deductions available to you. In doing this, we can help you receive a healthy refund at the end of the year, instead of having to pay more taxes.
OUR REPORTS ARE ALL INCLUSIVE
When using our services, you will find that all our apartment and house depreciation schedule/s are prepared only after a full inspection has been undertaken. You will receive detailed tax depreciation reports from Queensland’s best value Quantity Surveyors! We also provide accounting services for tax deprecation.
What’s Included In Our Residential Tax Depreciation Schedules*
What’s Included:
- A detailed schedule that clearly shows how we came to our conclusion. Some companies claim to have 20 pages, but you don’t need this, all the figures you require are normally on just two-six pages.
- All plant and equipment reports will contain an automatic write of $300.00. (Previous lived in will not apply)
- All plant and equipment reports falling within the $1000.00 threshold will have low value pooling utilised
- Residential `tax depreciation schedules will be simple to read
- Two summary pages showing straight line and diminishing methods. You select the best results when you lodge your tax return.
GET IN TOUCH WITH US TODAY
When you want the very best, contact Budget Tax Depreciation. Let us show you how we can not only save you money on your taxes but also get your highest, healthy refund at the end of the year.
We provide Tax Depreciation Schedule services to: Brisbane, Sydney, Melbourne, Gold Coast, Sunshine Coast, Ipswich, Springfield Lakes and North Lakes.
Phone: 1300 884 215
Email:
- Tax Depreciation in the Gold Coast, Suite 30610, Level 6, Southport Central 3 Commercial, 9 Lawson Street, Southport, QLD 4215, https://budgettaxdep.com.au/gold-coast-best-tax-depreciation-service-provider-1-rated/
- Tax Depreciation in Brisbane, 13 Hubbard Street, Wavell Heights, QLD 4012
- Tax Depreciation in Brisbane , 8 Bluegum Rise, Anstead, Qld 4070
- Tax Depreciation in Sydney, Unit 42, 1-5 Collaroy Street, Collaroy, NSW 2097
- Tax Depreciation in Melbourne, Unit 9, 440 Collins Street, Melbourne, VIC 3000
Phone: 1300 884 215 | Address: 13 Hubbard Street, Wavell Heights, Brisbane, QLD 4012
- Phone: 1300 884 215
- Address: 13 Hubbard Street, Wavell Heights, Brisbane, QLD 4012
