Tax Depreciation

Updated: March 2023

✅ Greater Brisbane
✅ Sunshine Coast
✅ Darling Downs
✅ Gold Coast
✅ Tweed

Every year the Taxman performs Operation Money Suck on your bank account.
And every year your accountant fights back as best they can.

But property investors have a secret weapon at their disposal

…it’s a secret because only 10% of all investors know how to take advantage of it!

So the fact you’re here – right now – means you’re already ahead of 90% of property investors in Australia

First:

What is a Tax Depreciation Schedule?

Also known as a Tax Depreciation Report or Quantity Surveyor’s Report

Answer: it’s a list of every asset in and on your rental investment property, assigning each with a value and lifespan. A set depreciation percentage is then allocated to each item – as deemed by the ATO

There are 3-vital-steps to a [good] Depreciation schedule…

so…

Why Do You Want A Depreciation Report?

Answer: To pay less tax!

– by claiming the everyday wear-and-tear on your investment property as a tax deduction.

But…only if you use an ATO approved Tax Depreciation provider.

With your report you can claim the ‘on-paper losses’ as tax deductions against your rental income

…that means you pay less tax each and every year you use the report

Just like the owners of these properties…

But…

Do you even need a report?

Not wanting to waste your time and blow smoke up your skirt…not every property investor should get a report

The very next thing you should do is find out if you need one

Should You Get a Report – or are you just wasting good money?
Find Out Here

But maybe you want to see some real-world results first…

Here’s what some of our successful clients have been able to achieve…

Check out client results in our PORTFOLIO

But it all starts with getting your free quote…

And it’s easily done

Simply click here and you’ll be taken to an easy form to complete. ⤵️

Easy 30-sec form, quick reply, no obligation

Depreciation on buildings

Investment property owners can claim deductions under the ITAA 1997 tax depreciaiton legislation for both Division 40 and Division 43 items

Division 40 Deductions

Div. 40 is the category where your plant and equipment items aka furniture and fixtures will be claimed as tax dedutions. Now, there have been rule changes that rule out a lot of exisitng plant and equipment assets from being deducted, but I know exactly how to hanlde these items if you are affected by that ATO ruling.

Division 43 Deductions

Division 43 is where all the structural and permament items are claimed as deductions.
Items like;

• • Carports
  • Swimming Pools
  • Landscaping
  • Bathroom and Kithcen renovations

just to name a few

Still have some questions?

…maybe these FAQs will help you

QUESTION: How Much Should A Tax Depreciation Report Cost?

You’ll see online reports range from $250 right up to about $800

But the sweet-spot is the $600-$660 bracket. Shopping in this price range should get your shortlist down to 10 or 20 good quality providers. Myself included 😉

QUESTION: How Do You Become Certified for Tax Depreciation?

Firstly I had to do a 4-year uni degree in Quantity Surveying. Then work as an Estimator in the construction industry.

Plus…work in the tax depreciation sector for 2 years.

After that, I was qualified enough to apply for acceptance into the Tax Practitioners Board (Australia) to provide tax depreciation reports.

Each year I must complete about 25-hrs of CPD training and maintain a clean slate with the ATO.

QUESTION: Why Do I need a Quantity Surveyor?

Under tax ruling TR97/25 the ATO says:

“investors must engage a Quantity Surveyor to produce a depreciation schedule on their behalf”

The ATO found some rogue operators were overvaluing items and manipulating tax law. So the ATO now makes all quantity surveyors register as tax agents with the Tax Practitioners Board (TPB).

In doing so, all TPB-registered quantity surveyors are bound by the TPB and ATO legislation.

Therefore, we must not provide false or misleading information on the depreciation report.

QUESTION: What Does My Accountant Do With My Depreciation Report?

Your accountant will mark-off the depreciation values as an ‘on paper’ loss against your rental income.

For you, that means less tax to pay.

And should the deduction,/ps be greater than the income produced, your accountant will mark-off these losses against other income sources (usually your job).

…this is known as Negative Gearing.

Once again, this means less tax to pay.

Easy 30-sec form, quick reply, no obligation

What to do next

Virtually every investor thinks a depreciation report may be a waste of money.

Maybe your house is too old

Maybe it’s too small

or maybe you think you’ve left it too late

Why not remove all doubt? – check with me

I’ll research your property and let you know if there’s enough deductibles worth claiming.

Simply fill in this form below and I’ll personally be in touch.

Get Your Quote Here

Find out more about claiming your tax refunds here

Get Your Quote Here

click here for Loads More Info on Tax Depreciation

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Office Location: 549 Grieve Rd. Rochedale, BRISBANE Queensland 4123