BMT Tax Depreciation are Australia’s leading depreciation specialists, helping property investors Australia-wide to claim maximum property depreciation deductions. With end of financial year looming, if you are an investor now is the time to consider how this tool may help you pay less tax this financial year.
What is Depreciation?
Depreciation is the natural wear and tear that occurs to a building and the assets within it over time.
How Does Depreciation Impact Tax?
The Australian Taxation Office (ATO) allows owners of income producing property to claim this depreciation as a decline in value tax deduction. A tax depreciation schedule is required to maximise the depreciation claims available and to substantiate these claims in a tax return.
On average, BMT can find between $5,000 – $10,000 in deductions in the first full financial year for residential properties. All schedules can be split by ownership percentage, to ensure maximum possible deductions are claimed.
“Investors who make their own depreciation claims could be missing items and assets that can be legitimately claimed. This is likely costing them thousands of dollars per year in tax savings” said BMT CEO Bradley Beer.
BMT are so confident they can assist you to maximise your claim that they offer a guarantee to find double their fee in deductions in the first full financial year, or they won’t charge for their services.
If you are an investor interested in arranging a tax depreciation schedule for your property, please don’t hesitate to contact our office today on (07) 5443 2000.