How much would a brand new Melbourne Townhouse
Written on the 16 April 2016 by Steve
How much would a brand new Melbourne Townhouse investment property get in tax depreciation in the first year?
Here's today's comparison investment property in Melbourne for everyone to give you an idea of what we were able to get this property investor to deduct from tax this year. These were beautiful brand new townhouses.
Suburb: Newport, VIC
Type of Property: 3 bed 2 bath 2 car Townhouse
Age of Property: 2015
Approx Purchase Price: $655K
Approx 1st year tax deduction: $17,000 Remember you get tax deductions every year, this is just what this family investor will get back in year 1.
Remember this is just one example. Every property is able to claim different deductions. Request a quote if you would like us to chat to you about deductions on your own investment property.
All property investors like to make sure that they are claiming the maximum possible deductions when it comes to tax time. Not everybody knows that it's not actually your accountant who helps you to claim these deductions, but a qualified Quantity Surveyor who will create a Tax Depreciation Schedule.
That's where we come in.
Most people start with the request a quote button to give us a few small details that we need to quote you a fee. You don't need to be worried about shopping around because we already know that we can offer the most competitive prices, this is why we happily offer to match any written quote. How many times have we had to do that? Never.
After you make contact with us we will send you a standard form to fill in with the details we need about your property that will affect the tax depreciation.
We will then make an appointment to visit the property to make sure we can gather as many deductions as possible. We will find things you may never have even considered could be included for deduction and work hard to make sure we are getting you every possible cent back in deductions that you can.
Shortly afterwards we will send you your schedule for you to hand to your accountant who will use this document to get those deductions happening.
And guess what? Once you have the report, your accountant will keep it in a file to be used every year you own the property! One of the great joys of owning investment property which is why we believe that a tax depreciation report should be renamed a chocolate sundae which you can read about here.
If you need help with tax depreciation on your investment property, just click on the link below and we will be in touch soon.