Of all the tax deductions available to property investors, depreciation is the most often missed. According to Bradley Beer, the Chief Executive Officer of BMT Tax Depreciation, a staggering 80 per cent of property investors fail to take advantage of property depreciation.
“On average, most property investors can claim between $5,000 and $10,000 in deductions in the first year for a residential investment property,” said Mr Beer.
Depreciation is a non-cash deduction that the Australian Taxation Office (ATO) allows any owner of an investment property to claim due to the wear and tear of a building over time.
BMT’s latest value-adding tool for property professionals, New to Rent, provides Property Managers with complimentary depreciation estimates tailored for each rental property their agency lists.The estimates highlight the difference depreciation can make to an investor’s cash flow and ultimately help industry professionals establish a point of difference in today’s competitive property management industry. For investor clients, being advised of the potential depreciation deductions they could be claiming is a valuable source of information, helping them to determine their after-tax cash position. The New to Rent process is simple:
- Our depreciation experts will identify each rental property listed online
- The depreciation estimates for these properties will be emailed to the Property Manager
- The Property Manager can forward the estimate through to the owner, showing them the deductions they could be entitled to claimTake advantage of this free service today.
Sign up at bmtqs.com.au/new-to-rent-sign-up or call 1300 268 277. This feature is also available through MyBMT.
To register simply visit mybmt.bmtqs.com.au. 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 bmtqs.com.au for an Australia wide service.