by Archi-QS | Jul 13, 2021 | All Posts, Quantity Surveying, Tax Depreciation
Are you an investor and have only recently become aware of a tax depreciation schedule and the deductions that are available for your investment property? Firstly, welcome to the party! Secondly, let’s tackle this right now as you might be missing out on valuable...
by Archi-QS | Jul 12, 2021 | All Posts, Quantity Surveying, Tax Depreciation
ATO: “Any owners who purchase a second-hand residential investment property who have exchanged contracts after 7:30 pm on the 9th of May 2017 will not be able to claim tax depreciation on existing Plant and Equipment (Division 40).” Well, have you renovated recently?...
by Archi-QS | Jun 29, 2021 | All Posts, Quantity Surveying, Tax Depreciation
What is Capital Gains Tax? Capital Gains Tax (CGT) is a form of income tax that a property owner is liable to pay within the financial year of selling their property. When selling a capital asset, shares or real estate, you usually make a capital gain or a capital...
by Archi-QS | Jun 22, 2021 | All Posts, Quantity Surveying, Tax Depreciation
A Tax Depreciation Schedule empowers investors by turning property value depreciation into tax deductions. As time passes and buildings age, their worth declines, including the contents within. This schedule estimates the depreciation and associated tax allowances,...
by Archi-QS | Jun 18, 2021 | All Posts, Quantity Surveying, Tax Depreciation
As the Treasury Laws Amendment Bill 2017 was passed on the 15th of November 2017, important changes were made to the Income Tax Assessment Act 1997. It now denies property investors from claiming income tax deductions for the decline in value of ‘previously used’...
by Archi-QS | May 25, 2021 | All Posts, Quantity Surveying, Tax Depreciation
Understanding what you can claim is the first step towards maximising your return with a Tax Depreciation Schedule. The Australian Taxation Office (ATO) has recognised that the value of capital works (Division 43) gradually reduces over time and these items can be...
