Are you thinking about building a new investment property?
With the numbers proving that new properties hold the most depreciation deductions, building new is a popular choice.
Understanding construction costs can provide a ballpark figure of what to expect when building an investment property. Guides such as the BMT Tax Depreciation Construction Cost Table can help you decide on the best build for your investment property strategy and budget.
Construction costs consider the building type, design, level of finish and location. The Gross Floor Area and Fully Enclosed Covered Area rates allow construction costs to be estimated down to the square metre.
A specialist quantity surveyor is one of the few professionals recognised as having the skills and qualifications to estimate construction costs for depreciation purposes. This knowledge ensures that you can claim the most in depreciation deductions on the structural component of the building.
The structure of a building is depreciated using capital works deductions. On a new build, capital works can be claimed for forty years and on average make up 85 to 90 per cent of total depreciation claims. Therefore, it’s crucial to claim this lucrative deduction correctly from the very start to avoid missing out on thousands.
BMT Tax Depreciation has prepared over 700,000 tax depreciation schedules, Australia wide. BMT’s construction cost expertise ensures you claim the most out of your investment property.
To learn more about depreciation and construction costs, Request a Quote or call BMT on 1300 728 726.
BMT Tax Depreciation is Australia’s leading supplier of residential and commercial tax depreciation schedules.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation. Please contact 1300 728 726 or visit bmtqs.com.au for Australia-wide service.
General Advice Warning
The material on this page and on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained on this page and on this website is General Advice and does not take into account any person’s particular investment objectives, financial situation and particular needs.
Before making an investment decision based on this advice you should consider, with or without the assistance of a securities adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. In addition, the examples provided on this page and on this website are for illustrative purposes only.
Although every effort has been made to verify the accuracy of the information contained on this page and on this website, Chan & Naylor, its officers, representatives, employees, and agents disclaim all liability [except for any liability which by law cannot be excluded), for any error, inaccuracy in, or omission from the information contained in this website or any loss or damage suffered by any person directly or indirectly through relying on this information.
Chan & Naylor is Australia’s leading property, business, tax-accounting & wealth advisory group with offices nationwide.