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What is a tax depreciation schedule?

If you own investment properties, the aim is to maximise your tax returns with legitimate tax depreciation deductions so you can save yourself more money.

To do this you need to have expert knowledge on tax depreciation schedules from a highly skilled and professional Quantity Surveyor.

SC Tax Depreciations qualified and experienced Quantity Surveyors can help you make sure that you are not only claiming the tax depreciation that you are entitled to with your investment propertys, but that you also maximise this return.

But what is a tax depreciation schedule?

If you own a new or existing investment property , two areas of depreciation are available:

  1. Plant and Equipment
  2. Capital Works on the Building

A Quantity Surveyor provides a depreciation schedule or report that sets out all tax depreciation and building write-off claims for a new or existing investment property.

The tax depreciation report provides a 40-year schedule for capital works allowance (building write-off) and depreciable assets (plant and equipment allowance) on an investment property.

This allows property investors to deduct a portion of the original costs of plant and equipment (such as furniture and fittings) and capital works (such as renovations) on their investment property each financial year, over the effective life of that item.

The Australian Taxation Office recognises that the value of capital assets gradually reduces over time as they approach the end of their effective life. These assets can be written off as a tax deduction – known as depreciation.

Ultimately, tax depreciation schedules offer investors a smarter way to manage their assets and to ensure they are receiving the maximum return on their investment.

SC Tax Depreciations have a highly skilled team dedicated to helping you start taking informed steps towards managing your construction project or investment property professionally.

With our help in providing tax depreciation schedules and quantity surveying, your project or property investment will be both efficient and cost effective.

Call SC Tax Depreciations today on 07 5573 4011 to put you on the right path to claiming every tax deduction you are entitled to.

After a quick assessment, we will be able to compile a comprehensive tax depreciation report for you, detailing all of the deductions that you are entitled to along with a schedule of when you can expect to receive them.