Tax Depreciation Schedules

Depreciation refers to an assets decline in value over its anticipated life, even if the overall value of the investment increases.  For instance, as land value of a property investment increases, the condition and value of the structural improvements decreases.  Under Australian income tax law, owners of property used to produce a taxable income, are entitled to claim the decline in value for certain building elements and associated articles of plant and equipment.  A depreciation schedule allows you to ensure that you claim the full amount of tax back on your rental or investment property when completing your tax return.

A property Tax Depreciation Schedule is a professional report prepared by a suitably qualified Quantity Surveyor that outlines the amount of depreciation able to be claimed on the property over the life of the building.  A Tax Depreciation Schedule is a report that lists the depreciable assets related to owning an investment property, including the building itself.  It tells you, or your accountant, what tax to claim when putting in your tax return, to ensure you claim the correct amount of deductions.

Powerhouse Property Professionals are committed to providing specialist Tax Depreciation Schedules prepared to the requirements of the Australian Taxation Office, which will improve your property investments performance in return.  Please phone us on 1300 097 912 or fill out the our quotation request form via the link below, if you wish to have a Tax Depreciation Schedule carried out.