$1.5 BILLION IN TAX SAVINGS DELIVERED TO KOSTE CLIENTS
Get NO B.S. advice to get bang for your buck this Tax season.
DID YOU KNOW? On average you could be claiming almost $9,000 in depreciation deductions on residential property investments.
Comprehensively seek out deductions
Detailed tax depreciation schedules
Guaranteed in finding deductions and savings
As a property investor, you are probably already familiar with the substantial financial benefits of a tax depreciation schedule for your investment properties. Not familiar with Tax Depreciation Schedules? I’ll quickly explain the benefits for you now: “A depreciation schedule is a report carefully prepared by a Quantity Surveyor that will detail the value of your building, structure and fixtures over a period of time. The schedule is used at tax time when you complete your tax return TO REDUCE your taxable income and enhance your cash flow. “A depreciation schedule is a once off cost and will last for 40 years, allowing you to use this schedule each financial year, where you will be able to maximise ALL of the benefits available to you under Australian taxation law.” Ideally you will order your Tax Depreciation Schedule before the 30th of June so you can claim tax deductions for the past financial year and enjoy your maximised cash flow immediately!
What is included in your schedule?
Capital Works This includes the original cost of the property, extensions or renovations and structures.
Plants & Equipment. These are non permanent removable assets like; appliances, carpets, and flooring.
Your Tax Depreciation schedule will summarise all of this information into one report identifying the value of each part of your property and how much it has depreciated. This report is then available to use at tax time to complete your claim.
OUR RESIDENTIAL PACKAGES
- Desktop Quantity Surveyor Review
- 40x Year Summary
- Diminishing & Prime Cost Methods
- Low Cost & Value Pooling
- Previous Owner Works
- Common Areas
- Quick & Easy Form To Complete
- Quantity Surveyor (QS) Prepared Report
Silver Package Plus:
- Virtual Quantity Surveyor Inspection
- Capital Loss Deductions (Div 40)
- Complimentary Consultation
- Photographic Evidence
- Property Research
- Director Sign-off
- Maximum Deductions
Gold Package Plus:
- Physical Quantity Surveyor Inspection
- Unlimited Report Updates
- Asset Scrapping / Write offs
- RP Data – Property Report*
- RP Data – Rental Appraisal Report*
- RP Data – Suburb Report*
- *Subject to area availability on RP Data
How do you benefit from a Tax Depreciation Schedule? As an investor, you can claim back between 40 to 100 percent of an item’s value. Over time items and properties wear down and decline in value and the Australian Tax Office allows property owners to claim this fall in value as a Tax Deduction. Your Tax Depreciation schedule will have all of this information listed in an easy format so your accountant can claim on your tax return. A Tax Depreciation Schedule can improve your cash flow by thousands of dollars and will reduce the amount of tax you have to pay on a property.
New to property investing? If you haven’t realised the potential savings you can achieve from a Tax Depreciation Schedule and you have only just recently purchased your investment property, the ATO will allow you to adjust your tax return for up to 2 financial years.
Don’t Delay! Ideally you will want to have your schedule completed by the 30th of June. We do highly recommend you engage the services of a Quantity Surveyor sooner rather than later to avoid disappointment of missing out on making any claims for this current tax year!
Book in a call with a Quantity Surveyor to receive a free tax depreciation estimate If you have recently purchased an investment property or even if you have been a long time investor, give Koste a call to discuss how we can help you reduce your taxable income and improve your cash flow.