What to know if you are thinking of selling a property. Before an owner decides to sell their property, they need to be aware of the Capital Gains Tax (CGT) implications that may apply. Surprisingly, many owners …
ReadWithout obtaining a tax depreciation schedule it can be very easy for investors to incorrectly claim deductions for their rental properties. One of the reasons depreciation is missed or claimed incorrectly is because investors don’t understand the difference …
ReadAs we start the new year, many investors might be formulating their annual New Years resolutions. Investors often think about the ways they can reduce the costs of owning an investment property and wonder how they could boost …
ReadIt’s that time of year when many investors take a well earned break by booking a holiday away from home with their family or friends. While they are away from home, property investors might be tempted by opportunities …
ReadCompare the Pair – Case study: for $35 per week, you could own an investment property too Owning an investment property can be far more affordable for potential investors than they think, particularly when they claim all of …
ReadWhen an investor first decides to put their property up for rent, often they will weigh up whether it is better to rent the property unfurnished or furnished. Making this decision will largely depend upon the circumstances of …
ReadDepreciation continues to be one of the most common deductions missed as research suggests that just 20 per cent of property investors maximise the deductions they can claim. On average, an income producing property owner can expect to …
ReadThe past two years’ missed depreciation deductions total $26,286 Specialist Quantity Surveyors often receive enquiries from investment property owners who have owned and rented out a property for a number of years and they have not claimed …
ReadBMT finds an extra $28,200 in depreciation deductions! Working with Accounting Professionals, specialist Quantity Surveyors have the knowledge and construction costing expertise to accurately assess a property’s depreciation potential. This could result in a property investor claiming an …
ReadFirst time property investors who have never claimed depreciation before often ask just how much of a difference depreciation deductions will make to their annual cash flow. Depreciation can be quite a complex and daunting topic, but seeing …
ReadThe Australian Taxation Office (ATO) has issued a number of warnings recently indicating that rental property owners should be careful when claiming deductions. Common errors made by rental property owners highlighted by the ATO include claiming rental deductions …
ReadIncreasing property and rental prices have forced many Australians to start looking for alternative living arrangements. This has caused a surge in demand for secondary dwellings or granny flats. In response to this demand, data collected from thousands …
ReadRepairs and maintenance or capital improvements? Concerns about the cost of repairs and ongoing maintenance for an owner’s investment property can be reduced by claiming back these costs when an investor is completing their tax return. Before an …
ReadNo matter the age, no property is too old to claim depreciation. 61% of depreciation schedules prepared by BMT Tax Depreciation are for pre-owned properties. Of these schedules, 33% are properties which were built prior to 1987 and …
ReadEvery day we at Chan & Naylor receive numerous client enquiries as to Fringe Benefits Tax (FBT). So, we decided to have a closer look at exactly what it is and what are some of the necessities when …
ReadOutdoor Appreciation Increases Depreciation Claim deductions on outdoor structures and save When it comes to claiming depreciation on investment properties, many investors are unaware of the deductions available on outdoor structures, fixtures and fittings. Items outside a building …
ReadSix capital gains and depreciation facts for property investors One question investors often ask about claiming depreciation on a rental property is ‘how will these claims affect Capital Gains Tax (CGT) when the property is sold?’ CGT can …
ReadSplit your costs to maximise deductions – How split schedules can help you save With property prices steadily rising, co-ownership of property is becoming increasingly common. Co-owning property with a friend, family member or business partner has the …
ReadBe Super aware Self Managed Super Funds, property and depreciation Over the past six years, the total number of Self Managed Super Funds (SMSFs) in Australia grew from 399,474 to 509,992 according to statistics from the Australian Taxation …
ReadChoose to increase your cash flow now or later Select the best method to fit your investment strategy The Australian Taxation Office (ATO) allows investors to choose between two methods of claiming depreciation on the fixtures and fittings …
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