Property Depreciation Schedules
If you have an investment property, it can be depreciated to help you claim valuable tax deductions. Houses, units and commercial properties all qualify. However, up to 80% of Australian property investors are not claiming their full tax deductions. How can you be sure you’re not one of them?
“Depreciator” is a quantity surveying company that specialises in depreciation schedules, ensuring that you receive the maximum tax deductions available. Depreciator provides you with an ATO-approved tax depreciation schedule, helping you to claim thousands of legitimate tax dollars back on your investments, conserving your cash flow and safeguarding your future.
Each schedule provides you with a comprehensive report that sets out your depreciation entitlements on a yearly basis for 20 years – saving you money for the next 20 years! Plus, you can backdate your schedule so you can claim up to 4 years of ‘lost’ depreciation – with interest paid by the ATO!
The cost of the Depreciation Schedule is $715 (inclusive of GST), which is 100% tax-deductible. Plus, if your depreciation in the first full year is less than this fee, your schedule is free.
The only time this varies is if there are multiple residences (like a duplex or granny flat) or if Depreciator needs to send a quantity surveyor to an out-of-the-way or remote area.
How to get started
So if you would like to reduce your tax and save money for the next 20 years, all you need to do is fill in the online application form and Depreciator will take care of the rest!
- Q: Who organises the inspection and how long will the schedule take?A: Depreciator organise everything and it usually takes around 2 weeks (this is also dependent on your tenants if you have any) to complete your report. All you need to do is provide Depreciator with the contact details of your managing agent and they take care of everything else.
- Q: Doesn’t a schedule only apply to new buildings?A: Any building where construction commenced after 18 July 1985 qualifies for the ‘Special Building Write-Off’. That means you can depreciate the original cost of construction.
- Q: Can we claim renovations?A: Yes. The ‘Special Building Write-Off’ can be claimed on renovations – even if the previous owner did them. You can also claim Architects and Engineers Fees. Structural improvements such as retaining walls and sealed driveways, if done after 26th February 1992, also qualify.
- Q: Do we need to provide plans or receipts?A: No, Depreciator’s quantity surveying and building experience enables us to accurately estimate the cost of ‘capital works’ as well as all Depreciable Assets.
If you would like more information, Depreciator have put together a free e-book ‘The secrets of depreciation that every property owner should know’.