What is Property Tax Depreciation & Property Tax Allowances ?
If you own an Investment Property, you may be eligible to claim depreciation under Division 40 & 43 of the Income Tax Assessment Act
Please feel free to contact us directly and our Professional Quantity Surveyors will discuss in detail the eligibility of your Investment Property for depreciation
What are the benefits of getting a Tax Depreciation Schedule ? What happens if I get audited by the ATO ?
In obtaining a TaxShield Depreciation Schedule, it will maximise the amount of non-cash deductions you will receive in your Tax Return on your Investment Property. A Tax Depreciation Schedule will differentiate between depreciable plant and the allowance available on the building works, and will provide a detailed analysis sufficient to fully satisfy strict ATO requirements
Yes, an Accountant may assist, however under Division 40 & 43 of the Income Tax Assessment Act, the ATO encourages under the Self-Assessment Principles whereby the assistance of a Professional Quantity Surveyor is required in order to accurately estimate plant and building costs
When do I have to get a Tax Depreciation Schedule on my investment property ? How long will the Schedule last ?
Anytime after the date of purchase settlement and before the lodgement of the your next years Tax Return. Using TaxShield, your Tax Schedule will summarise your yearly allowance for the lifetime of your Investment Property
What is the cost of TaxShield ? How long will it take for me to get my Schedule ? What happens if I have a problem with the service ?
For a comprehensive TaxShield Schedule, a fully tax-deductible investment of only $300 +GST is required. This can be simply, quickly and affordably produced and fully supported by Professional Quantity Surveyors, and completed generally in 48-72 hours of submission. For any queries or immediate assistance, please email us at firstname.lastname@example.org or call our National Hotline on 1300 780 892