Tax Depreciation Schedule

Make your investment work harder for you

The vast majority of investors do not take advantage of tax depreciation schedules to reduce their taxable income.

A depreciation schedule is a report that outlines all available tax depreciation deductions for a residential investment property or commercial building. Most properties, new and old, have depreciation available.

A depreciation schedule will project capital works deductions and plant and equipment depreciation for the life of the property. This can subsequently be claimed in your tax return each financial year to help you save thousands.

Our tax depreciation schedule reports are prepared by qualified Quantity Surveyors and outline the depreciation allowances that you are entitled to.

As a lot owner in a body corporate am I entitled to claim depreciation on common areas?

Yes. As an investor in a complex or apartment building, you also own a percentage of the Body Corporate or Common Areas.

Your Tax Depreciation Schedule will include depreciation of all Body Corporate or Common Areas for your complex, based on your percentage ownership of the same.

As all strata title properties contain different assets, and have unique ownership arrangements, it is vital that deductions get apportioned correctly.

A Strata Umbrella depreciation schedule includes the following components:

  • Detailed 40-year forecast illustrating all depreciable items
  • Both prime cost and diminishing value methods of depreciation to help you decide which method is best for you
  • The effective life and depreciation rate for all division 40 (plant and equipment) assets
  • Low value and small business entity pools and instant asset write-off
  • A glossary of terms to help you understand the terminology used throughout the schedule

Benefits of a depreciation schedule

  • Save money – reduce the amount of tax you pay for great savings
  • Lasts a lifetime - a one-off fee that is also tax deductible
  • Adjust old returns - use your tax depreciation schedule to adjust previous tax returns and claim back missed dollars.

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