As October 31 fast approaches, now is a good time for property professionals to remind their clients to obtain a comprehensive tax depreciation schedule from a specialist Quantity Surveyor.
A schedule from a recognised Quantity Surveyor such as BMT Tax Depreciation will outline what depreciation deductions they can claim when they visit their Accountant to complete their annual income tax assessment.
Owners of any income producing property are eligible for depreciation. On average, owners of residential properties can claim between $5,000 and $10,000 in deductions in the first year alone.
To help property professionals to explain depreciation and what difference these claims will make to their investor client’s cash flow, BMT Tax Depreciation have a range of valuable resources.
They have also put together a handy flyer which you can distribute to your property investor clients as a reminder to obtain a depreciation schedule.
The document helps to explain what tax depreciation is in detail and provides examples of the deductions an investor could claim.
Contact Real+ at firstname.lastname@example.org or 02 8355 4999 for your copy!
Property professionals who would like more information can speak with one of the expert staff at BMT Tax Depreciation on 1300 728 726.
Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation.
Please contact 1300 728 726 or visit www.bmtqs.com.au for an Australia-wide service.