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Your eligible Tax Depreciation Schedule (via our Capital Allowance Report) will provide you with a deductible depreciation claim every year for up to 40 years!
Residential property schedules start at $660 and your fee will also be tax deductible in most instances (Please confirm with your accountant).
Your investment property is comprised of many assets that have differing useful lives that depreciate annually, as the property owner you are entitled to claim the depreciation as an expense that can be applied against the income your investment earns.
Residential investment properties that have been built, extended, refurbished or renovated since September 1987 are all eligible including:
• Houses
• Townhouses
• Apartments
• Units and
• Flats.
A trained assessor completes a schedule identifying all of the assets that comprise the investment property with a break down of the diminishing value over each year. As part of the process a licensed Quantity Surveyor signs off on the schedule and your accountant or tax agent can then include the annual depreciation figure as an ATO compliant deduction in your tax return.
NO – our Capital Allowance Report is completed once and the schedule covers your deductions for 40 years.
Contact PRP today to start your Tax Depreciation Schedule.
Email: depreciationsgeelong@prp.com.au
Phone: 03 5221 9511