Increase your tax refund by claiming Depreciation!

Did you know that 81% of Australian property investors are not claiming their full tax deductions*? Could you be one of them?

Source: Depreciator

If you have an investment property, it can be depreciated. Think of it as ‘wear and tear’. Houses, units and commercial properties all qualify. Even older properties can be depreciated. These depreciation costs can help lower your overall tax liability and increase your estimated tax refund.

By using an ATO recognised tax depreciation schedule, investors like you are claiming thousands of legitimate tax dollars back on their investments, conserving their cash flow and safeguarding their future.

You can even backdate your schedule so you can claim up to 4 years of ‘lost’ depreciation – with interest paid by the ATO!

Depreciator has an Australia wide network  of Quantity Surveyors and appropriately qualified people. They are affiliated with one of Australia’s largest accounting groups and two of Australia’s largest real estate groups. Their service is efficient and cost effective – much is taken care of on-line.

What are the benefits of using Depreciator?

-         The fee is 100% tax-deductible. And if you pay by June 30, you can claim it back straightaway.

-         Depreciator specialises in depreciation schedules. This ensures that you receive the maximum tax-deductible depreciation you are entitled to.

-         By reducing your tax, you can increase your cash flow. And according to Robert Kiyosaki, ‘Cashflow is King’.

-         Depreciator provides a comprehensive report that sets out your depreciation entitlements on a yearly basis for 20 years - saving you money for the next 20 years!

-         The Tax Depreciation Schedules are suitable for all types of property investors - companies, partnerships, trusts, individuals and couples.

-         Hassle-free - all you need to do is fill in the online application form  and Depreciator will take care of the rest.

-         There is even a guarantee! - if you do not get more depreciation than the fee in your first full year, your schedule is free.

-         Your Schedule is transferable to future buyers on your property sale.

-         Your Schedule will have calculations for both the Prime Cost and Diminishing Value methods so you can select the most tax-effective strategy for you.

Some Frequently Asked Questions:

Who is Depreciator?

Depreciator is a quantity surveying company whose sole focus is the preparation of Tax Depreciation Schedules for individual investors. They cover all capital cities and many regional areas.

Their specialist skills ensure that you receive the maximum depreciation allowable on your investment properties.

How do I order a depreciation schedule?

Easy. You can make an on-line enquiry and get a quote. Go to the online enquiry form by clicking here (www.depreciator.com.au/ereturn/website). If you have any queries, a comment can be entered into the form and a Depreciator representative will call you to discuss getting a Tax Depreciation Schedule.

How long does it take to receive a Tax Depreciation Schedule?

It usually takes 2 weeks to complete your report. However, if there are tenants residing at your investment property, it may depend on their availability.

There may also be an extended turnaround time if Depreciator needs to travel to a remote area.

How much does it cost?

A comprehensive Tax Depreciation Schedule, which provides you with up-to-date depreciation information for the next 20 years, costs $715 (GST inclusive). This amount is 100% tax deductible.

Plus, if you do not receive more depreciation in your first full year than Depreciator’s fee, your schedule is free!

Note: The only time this fee will vary is if there are multiple residences (like a duplex or granny flat) or if Depreciator needs to send a quantity surveyor to a remote area. In the event of a furnished property, Depreciator may ask you to supply costs for some items. Any variations will be discussed at the time of booking.

How much money can I claim?

How much depreciation you can claim will depend on your investment property and your individual tax situation.

Below are some samples of actual depreciation schedule summaries:

Do I need to provide any information?

No. Depreciator specialises in depreciation and is able to accurately estimate the cost of ‘capital works’ as well as depreciable assets. This means no receipts, plans, photos or sketches and most importantly, no hassle for you!

Doesn't depreciation only apply to new buildings?

Any building where construction started after 18 July 1985 qualifies for the 'Special Building Write-Off'. That means you can depreciate the original cost of construction. Plus, for all buildings, there are a host of depreciable assets like hot water systems, blinds, floor coverings and stoves that may be depreciated.

Can I claim renovations?

Yes. The 'Special Building Write-Off' can be claimed as long as the renovations were undertaken after 26 February 1992. You can also claim Architects and Engineers Fees. Structural inclusions such as retaining walls and sealed driveways, if undertaken after this date, also qualify.