If you own an investment property, do you know you could be taking advantage of this tax deduction in your income tax.

You can claim the depreciation of your investment property against your taxable income. Only about 40% of property investors take advantage of this and in fact seasoned property investors usually take this into account before purchasing their investment properties.

How it works - The Australian law allows investors to claim tax deductions on on the decline in value of the buildings structure and the items considered permanently fixed to the property and the decline in value of plant and equipment located within, example oven, dishwasher, carpet ect. If your residential property was built after july 1985 you will be able to claim both building allowance and plant and equipment. If construction commenced before this date you can only claim depreciation on plant and equipment but its still worthwhile.

Is my house too old to claim depreciation? The ATO has determined that any building that is eligible to claim depreciation has a maximum life of 40 years from construction completion date.

To make substantial savings, we will inspect and have prepared a report for your accountant. If you bought your property 2 years ago and have not claimed this in your tax, your accountant can amend your previous tax returns as far back as 2 years though there are some exceptions, so contact your tax agent or the ATO for clarification.

Our partnership with a Chartered Quantity Surveyor and Registered Tax Agent ensures quality & compliance.