Trades & Services
Quantia Valuation Consultants
As a property investor, do you realise that if you don’t have a depreciation schedule for your investment property you are probably missing out on thousands of dollars per year?
You may not be aware that the Australian Tax Office allows you to write off the construction cost of an investment property that was built or upgraded after July 1982 for commercial properties, or after July 1985 for residential properties.
You can claim depreciation of between 2.5% - 4% of these costs each year and even higher rates for the contents (fixtures and fittings such as carpets, window treatments, ovens, air conditioners etc). You can even back claim for previous years.
Our depreciation schedules set out the amount to be claimed for a 10 year period. Our schedules are prepared by a fully qualified Quantity Surveyor – the only profession that is specifically approved by the ATO to complete this work.
Example case: A recent depreciation schedule prepared for a strata unit in Burswood that was constructed in 2008 showed a $105,089 deduction over the next 10 years.
Assuming a tax rate of 45 cents in the dollar, this property investor will receive an additional $47,290 in tax returns over the coming 10 years.
That’s $4,729 per year CASH back!
For more information or to order your Depreciation Schedule, contact us now.
Contact Detail
Jeremy McGrade
Phone: (08) 9488 4870
Email: jeremy@quantia.com.au
Website: www.opteonproperty.com.au
