My First Investment Property

…Just bought your first investment property in South East Queensland?

Really Old or Nearly-New… it doesn’t really matter… there’s bucket-loads of tax refund entitlements waiting for you.

?All you need is a Quantity Surveyor’s report?

The world is divided into 2-types of people…those who own investment properties and those who don’t.

…those who don’t tend to be worse off financially

But first…

What happens if you don’t get a depreciation report?

Truth is: Nothing…

…You don’t need a depreciation report. Ever. No one does.

And when Money’s as hard to come by as it is right now Why would you want to spend anymore than you have to?

My caveat:

If money is tight, a tax depreciation report may actually help improve things.

It will help by reducing the amount of tax you have to pay

It will help by improving your cash-flow. Especially if you use the XZY form to get an ‘advance’ on your tax refunds

it may even help leverage better interest rate deals at the bank when they see how good your tax deductions are

Who prepares your tax depreciation report? Your Accountant – or a Quantity Surveyor?

Here’s what a tax depreciation report is and why you want one…

As a tax-paying property investor you’re legally entitled to reduce the tax on your [rental property] income stream by claiming deductions for the daily wear-and-tear
…but only if you get an ATO accepted tax depreciation report from someone such as myself or another provider.

So if that sounds alright: read on

Jumping straight in… why may you want one

Rent = income
Income = tax
Tax = no spare money

So by extension owning an investment property means you have limited disposable income (short term).

But, there are tax laws exclusively available to property investors you can take advantage of to reduce your tax.
Plus it has the added bonus of increasing your cash-flow.

To achieve this, you need what the ATO calls a “tax depreciation report – aka – tax depreciation schedule”

Some clients get many hundreds in tax refunds. Some get many thousands. Many, many thousands. Each and every year.
It all depends on your property and your tax circumstances.

Either way, you’ll definitely get far more benefit from getting a report than not.

Here’s what a few Brisbane tax depreciation report clients got recently

Here’s a summary on tax depreciation.
What it is, and why you want it

Jumping straight in…

Rent = income
Income = tax
Tax = no money

So by extension, owning an investment property means you have no money (short term).

However, there are tax laws you can use to reduce the tax you have to pay and increase your cash-flow. To achieve this, you need what the ATO calls a “tax depreciation report”—which is what we do.

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

Interesting fact about rental income

Now that you’re a landlord you know all about paying bills and managing cash-flow

Last Christmas (my off-season) I analysed a bunch of clients’ property expenses to see what they spent on maintenance yearly.

Those with older properties dedicated 3 full weeks of rental income to cover maintenance bills.

Those with newer properties needed about 1.5 weeks rent to cover the bills.

That’s gross rental income btw. Not net.

So every dollar you can save on tax is money you don’t need to find somewhere else. Money that can actually work for you as income, rather than disappearing back into your property.

But to save money on tax, you need to know every trick in the book

Or, you can just get a good Accountant & Quantity Surveyor (QS).

Note: our one-off fee is a tax deduction – just like your Accountant’s fee

How to get a tax depreciation report

Get a no-obligation free assessment of your property to see if it’s worth it
I’ll send you a quote + sample report + a guaranteed minimum per annum deduction amount
You supply some basic information about the property
One of our Quantity Surveyors will inspect your property
We prepare the report and send a copy to you and your accountant

Getting a quote is easy & free. All we do is ask you a few questions and we’re ready to go!

Get Your Free No-Obligation Quote Here

BTW: if your first investment property happens to be your former principal property -check out the my principal property is now an investment property page

Still have some questions?

…maybe these FAQs will help you

QUESTION: When Should I Get A Tax Depreciation Report?

The best time is as soon as you take ownership of the property.

…if it happens to be your former principal place of Residence that you’re about to rent out – the best time is just before tenants move in.

QUESTION: Can I Get A Report For An Apartment?

Yes.

In fact, apartments are ideal for tax depreciation. That’s because the cost per square metre to build them is often 2 even 3 times more than a normal house.

That means bigger tax deductions for you.

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 deductions be greater than the income produced, your accountant will mark-off these surplus losses against other income sources (usually your job).

…this is known as Negative Gearing.

Once again, this means less tax to pay.

See how to slash your tax with one simple quote

Get Your Free Quote Here