Tax Depreciations

The Australian Taxation Office (ATO) acknowledges the gradual reduction of the value of capital assets over time. As these items near the end of their life, investors are able to write them off as tax deductions that are known as tax depreciation.

SC Tax Depreciations on the Gold Coast can guide you through tax depreciation on such items within your investment properties.

Any assessable income that is generated by either residential or commercial investment properties on the Gold Coast can be legitimately claimed as a tax deduction. Known as tax depreciation or property depreciation, this process has various benefits for property investors.

You might be entitled to deduct a portion of the original costs of a wide range of services on and equipment stored in your Gold Coast property. From the furniture and fittings right through to renovations, the end of each financial year could assist you in reclaiming some of the costs involved in maintaining your investment property. Capital Works on your building as well as Plant and Equipment are eligible to have certain amounts claimed as deductions over the entire life of said items.

Every investor has different depreciation benefits from the next. A lot of variations come into play when calculating tax depreciation, from the type of the building, how old it is, what it is used for and so on. Commercial and residential investment properties can all have tax depreciation claims that are based on either the diminishing value or the prime cost depreciation methods. Maximising tax depreciation claims can be ensured by working with a qualified Quantity Surveyor. With a thorough knowledge of current Gold Coast tax depreciation legislation and experience in Quantity Surveying and construction costing skills, the team at SC Tax Depreciations are ready to help.

The benefits of a depreciation schedule:

Depreciation schedules offer investors a smarter way to manage their assets. SC Tax Depreciations qualified and experience Quantity Surveyors can help you make sure that you are not only claiming the tax depreciation that you are entitled to, but that you also maximise this return.

Taking into consideration both your Capital Works allowance and your Plant and Equipment, our professionals will complete a comprehensive report that will show you what you can expect to claim from, how much you can expect to claim and when you can expect to claim it.

Why choose SC Tax Depreciations

In today’s world, we all live very busy lives. No one wants to go through the hassle of working out tax depreciation values, schedules and deductions. That’s where our team comes in. We can help make the process of maximising your investment property’s tax depreciation deductions simpler and easy.

Call SC Tax Depreciations Gold Coast today, and find out more about the qualified team and how you can put their experience to work for you, leaving you to do the important things in life.