Tax Depreciation test | Koste Chartered Quantity Surveyors

Tax Depreciation

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What is Tax Depreciation?

The structure of a building, as well as the assets contained within, deteriorates with time. Depreciation is the process of claiming a deduction for your property’s natural wear and tear.

The Australian Taxation Office allows owners to deduct this expense, unlike other types where you need to outlay money in order to make that claim.

Want to learn about Tax depreciation? Visit our Knowledge Hub

Why Tax Depreciation Matters

Boost Your Cash Flow

Deductions from investment properties reduce taxable income, resulting in lower tax payments. This extra money can then be reinvested into the property or used for other investments, enhancing cash flow and overall returns.

Reduce Taxable Income

Using a depreciation plan can help you save money on taxes. Your taxable income is reduced by the amount indicated in the depreciation schedule.

Enhance Property Investment ROI

Identify depreciation deductions in a property, increasing ROI by reducing taxable income. Outcomes include lower tax liabilities, available funds for property improvement or acquisition, and improved cash flow and profitability for property investors.

Who can claim Tax Depreciation?

If you own a residential investment property or commercial structure, your properties are eligible for depreciation deductions. Depreciation deductions are offered on most assets, whether new or old.

How to claim Tax Depreciation

Using a quantity surveyor to claim tax depreciation is a smart idea. Quantity surveyors are specialists in determining the worth of construction projects.

Koste Chartered Quantity Surveyors can give you a report on the depreciation rate that can be claimed on your property and when you can claim it. You can then report to your accountant and include it in your tax return.

Get a Quote

Requesting a quote will allow you to learn how much your depreciation schedule will cost.

Asset Information

With your provided asset information we’ll set up an appointment with your property manager to conduct a thorough inspection of your assets.

Claim your Tax Deduction

Once your tax depreciation schedule is finished, we will forward it to you right away and to your appointed accountant.

Tax Depreciation

Not familiar with Tax Depreciation Schedules? We’ll quickly explain the benefits for you now.

A depreciation schedule is a report carefully prepared by a Quantity Surveyor that will detail the value of your building, structure, and fixtures over a period of time. The schedule is used at tax time when you complete your tax return to reduce your taxable income and enhance your cash flow. Ideally, you will order your Tax Depreciation Schedule before the 30th of June so you can claim tax deductions for the past financial year and enjoy your maximised cash flow immediately!

Why Get A Tax Depreciation Schedule?

  • Maximise Tax Deductions
    Maximise deductions and pay less tax when you get a tax depreciation schedule from our chartered quantity surveyors.
  • Lasts the Property Lifetime
    Because a tax depreciation schedule covers the whole life of an asset, it must be done correctly right from the start.
  • Claim Missed Cash Returns
    Your depreciation schedule can be used to adjust past tax returns and claim funds incorrectly deducted.

Maximise Tax

Call a Quantity Surveyor at 1300 669 400 to estimate tax depreciation benefits.

Estimate Now

Get Your Custom
Tax Depreciation Schedule Today

Reach out to our experts today and ensure you’re maximising your property investment returns.