Commercial Property Tax Deductions

How to maximise depreciation deductions available to you

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depreciation deductions

Commercial property owners often look for ways to reduce the costs of owning their property but many still do not maximise the depreciation deductions available from the property. To assist commercial property investors, here are some tips on property depreciation to consider:

Commercial property owners often wait until the next financial year to claim depreciation deductions but they could miss out on valuable cash which can be used to secure the property. Quantity Surveyor use legislative tools such as low-value pooling and immediate write-off to make partial year claims which are more advantageous to owners.

It is best to consult an expert to know what claims are available. Commercial property owners can claim the tax depreciation schedule fee straight back in the same financial year if the schedule is arranged before June 30th.

The previous two financial year’s tax returns can also be amended so a commercial property owner who has not maximised their deductions and claimed depreciation still has a chance. To make a claim, a tax depreciation schedule can provide details of any deductions missed.

It is important to consult a specialist to make sure that the correct deductions are claimed. Quantity Surveyors have the qualifications to estimate the construction costs of a property for depreciation purposes. They inspect properties to make sure that every plant and equipment asset is identified and claims for fit-outs are duly noted for both the tenant and owner.

Depreciation schedules make it easier for tenants, owners and accountants to claim the maximum deductions available for each party. To read more tips on property depreciation, stay tuned!

For more information about property investments in Australia, contact a Chan & Naylor office near you to discuss your particular circumstances.


Disclaimer: This article contains general information; before you make any financial or investment decision you should seek professional advice to take into account your individual objectives, financial situation and individual needs. Click for more detail regarding this disclaimer.

One response to “How to maximise depreciation deductions available to you”

  1. Karl says:

    My Dad owns a shopping center. He built it over the last 50 years or so.
    I’m pretty sure he hasn’t done a depreciation report.

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