Residential Tax Depreciation
Commercial Tax Depreciation
Tax Depreciation Projects
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.
Why Tax Depreciation Matters
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.
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.
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.