Tax Depreciation Report
A tax depreciation schedule can help you maximize the tax benefits of owning residential and commercial investment property in accordance with Australian taxation legislation. A tax depreciation schedule can help boost your tax savings on your investment property.
Over time, your investment property and its fittings incur wear and tear. The cost of this wear and tear is called depreciation. Depreciation of your investment property is the amount the Australian Tax Office (ATO) allows you to claim as a deduction against your taxable income.
Bricks and Mortar
These items generally depreciate over 40 years and include the dwelling, garage, carport, pergolas, sheds, paving, fencing, pools, clothesline, and more.
These items generally depreciate at much faster rates and include carpet, heating and cooling systems, appliances, smoke alarms, window furnishings, and more.