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Tax Depreciation Brisbane | Property Investment Brisbane

Common Questions and Answers

What is the cost? How long will it take for me to get my Schedule?

For a comprehensive depreciation Schedule, a fully tax-deductible investment of only $495 +GST is required. Our professional Quantity Surveyors can simply, quickly and affordably produce this, with a guaranteed return to you within 3 weeks of submission. For any queries or immediate assistance, please call our National Hotline on 1300 726 098

 

Why is the cost so low?

We are able to service our clients with a professional low cost and reliable service due to our business structure and low overheads making us a strong competitor to the larger firms who can be quite costly.

 

What is Property Tax Depreciation & Property Tax Allowances?

If you own an Investment Property, you are eligible Under Division 40 & 43 of the Income Tax Assessment Act to claim depreciation on all Items of Plant contained within the property and secondly, if constructed after 1985, an allowance of either 2.5% or 4% is applicable on the construction cost, depending on its start date.

 

What are the benefits of getting a Tax Depreciation Schedule? What happens if the ATO audits me?

In obtaining a Tax Depreciation Schedule, it will maximise the amount of non-cash deductions you will receive in your Tax Return on your Investment Property. A Tax Depreciation Schedule will differentiate between depreciable plant and the allowance available on the building works, and will provide a detailed analysis sufficient to satisfy strict ATO requirements.

 

Can’t my Accountant do my Tax Depreciation Schedule? Do I need a Professional Quantity Surveyor to assist in the preparation of my Tax Depreciation Schedule?

Yes, an Accountant may assist, however under Division 40 & 43 of the Income Tax Assessment Act, the ATO encourages the Self-Assessment Scheme whereby the assistance of a Professional Quantity Surveyor is required in order to estimate accurate plant and building costs.

 

When do I have to get a Tax Depreciation Schedule on my investment property? How long does the Schedule last?

Anytime after the date of purchase settlement and before the lodgment of the your next years Tax Return. All Our Tax Depreciation Schedules cover the life of the property (40yrs) and are professionally presented, concise and easy to comprehend.

What does a report look like?

Our reports are professionally compiled and supplied to you electronically.

A sample report can be downloaded by clicking on the below link.

Still have questions?

If you are unable to find the answer to your question here, simply email us and ask. We're happy to help explain the details.