A 6-year-old Property Investment in Victoria still returns good tax depreciation for this young investor.
Here's today's comparison investment property for everyone to give you an idea of what we were able to get this property investor to deduct from tax this year.
Suburb: Tarneit, VIC
Type of Property: 4 bed 2 bath 2 car ...
Clarifying Tax Depreciation
Tax depreciation can seem a little vague for many people as you try to work out how it all works.
We talked about this in one of last months blog posts
'Why a tax depreciation report should be renamed as a Chocolate Sundae with a cherry on top.'
This time, I wanted to go a little further and ex...
With our years of experience in the financial industry, we are well placed to assist you in financial matters relating to Tax Rules relating to your investments and also assisting with costings and value of your investments.
A Capital works allowance is a deduction that is available for the structural element of a building, including all ...
The ATO Tax Ruling 97/25 states that if your investment property was built after 1985 and you are unaware of the costs of construction of the dwelling then you must hire a qualified quantity surveyor to compile a depreciation schedule. Your accountant can't do this for you.
In order to claim depreciation in your financial Tax Return, y...
Why a Tax Depreciation Report for investment property should be renamed a 'Chocolate Sundae with a Cherry on Top'...
The words 'tax depreciation' are not very appetising. Add the word 'report' and I can just about see your eyes glazing over. Not surprisingly.
Tax has forever been associated with something we al...