Tax Depreciation for property investors

July 31, 2013
Anita Cossenas

With the end of financial year just over the horizon, it’s time for property investors to get savvy. Many are missing out on entitlements which have the potential to save them thousands of dollars. An often overlooked, yet essential component of property investment is tax depreciation.


Put simply, tax depreciation schedules are reports which outline legitimate deductions that property investors can claim to reduce their taxable income. This is through the depreciation (wear and tear) of the property’s structure and its assets, which includes items such as carpets, curtains, hot water systems, air conditioners, ovens, pergolas, etc. Whilst many investors are aware of the benefits of tax depreciation, most aren’t aware that their accountants are unable to claim the full benefit of this entitlement.


At Real Property Matters, we specialise in completing tax depreciation schedules for property investors. Covering the property for up to 40 years (it’s entire depreciation life), our reports are a once-off investment, which allow investors to claim deductions on their tax each year that they own the investment property. One of our qualified quantity surveyors begins by inspecting the property to calculate the deductions available. Those deductions are then combined and a claimable amount for the property is established, creating the tax saving for the investor.


For example:     Property investor’s wage $70,000 Rental Income $20,000 Total income = $90,000 Less property depreciation claim of $8000 Investor only pays tax on = $82,000 Depending on the property, the tax savings made available will cover the expense of having the report completed within the first full year. Unlike other companies, Real Property Matters also provide FREE report updates for Mortgage Choice Camberwell clients whenever improvements or upgrades are made to the property, thereby ensuring that the report is always up-to-date and compliant. 


For a no-obligation quote for having a tax depreciation schedule completed for your investment property, please contact our friendly team at Real Property Matters on 1300 776 669 or visit Rob Toole - Director, Real Property Matters


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Posted in: Financial planning

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