Tax Depreciation Schedules

What is a Tax Depreciation Schedule?

Depreciation is what happens when an item’s value declines over time because it is becoming worn out. A Tax Depreciation Schedule is a report that lists everything in an investment property that is decreasing in value or ‘depreciating’ in value. If your property was built after the 18th of July 1985 this will also include the building itself. If your property meets this qualification and the original construction data is not available, it is essential that you hire a Quantity Surveyor to estimate this cost.

Why Do I Need A Tax Depreciation Schedule?

Tax Depreciation Schedules are needed to claim tax deductions. The depreciation method is used to calculate the cost of an item over its lifespan. When it comes to investment properties, you are only allowed to claim this type of deduction for specific items. A Tax Depreciation Schedule lists these items for you so you know what to claim against your taxable income.

All investment properties can have their assets depreciated and even some older properties can often contain fixtures and fittings that qualify them for a professionally prepared Tax Depreciation Schedule. This also applies to most renovations after the date mentioned earlier. Use our Tax Depreciation Calculator to get an indication of what you could be claiming.

Why Do I Need Asset Economics?

Every property is different, and so having an accurate schedule will determine the outcome of your tax return. There are two different categories the items must fall under, the first is equipment related like an oven or even your carpet, the second is the building itself. Determining what qualifies for depreciation can get a bit tricky. Hiring a professional to do this for you will ensure that nothing is missed and you get the best possible tax return.

What is included in the fee:

  • Cover page
  • Glossary of terms
  • Property summary
  • Division 43 summary (building write off @ 2.5%)
  • Diminishing value summary (plant and equipment)
  • Prime cost summary (plant and equipment)
  • Total summary – 40 years
  • Disclaimer
Keep in mind, the cost of our Tax Depreciation Schedule is 100% tax deductible!
Our Tax Depreciation Schedules are completed in 3 easy steps from $450 + GST. If you need a Tax Depreciation Schedule for your investment property, get a quote.
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Maximise your tax return Tax Depreciation Reports From $450 + GST
Find out how much you can claim with the Tax Depreciation Calculator

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Understand Your Potential Deductions from Tax Depreciation in Brisbane

Do you know what you can claim for tax depreciation in Brisbane?

Every year, the value of a structure and its components can decrease by a small amount. This “loss” can be taken as a write-off on your taxes, allowing you to offset the depreciation that occurs from holding on to your assets. How much does this add up for you?

The Benefits of Exploring Tax Depreciation in Brisbane with Asset Economics

Our team is here to help you find the answer to that question by equipping you with a robust depreciation schedule to use for tax preparation. The benefits of our service include:

  • Ease of access. Figuring out what is eligible for depreciation-related write-downs in your property is not always easy, but Asset Economics has evaluated thousands of homes. We have a deep understanding of what steps to take.
  • A tax depreciation schedule for your Brisbane property can make long-term financial planning much easier.

How Asset Economics Offers Superior Assessments of Tax Depreciation in Brisbane

To ensure we can provide our clients with the most dependable results, we:

  • Provide a complete and detailed report containing the depreciation schedule of your Brisbane home that is easy to understand.
  • Take the time to provide you with more detailed advice as necessary with personalised service.

With fast, convenient service, finding the numbers you’re after takes no time at all.

Why Choose Asset Economics?

With experienced quantity surveyors considering your property and crunching the numbers, you can rely on a depreciation schedule that accurately lays out the future value of your assets. Together with your tax advisor, this document can prove to be an invaluable tool. Take advantage of our friendly service and find out how we can help now.

Obtaining a Dependable Tax Depreciation Schedule for a Gold Coast Property

Don’t miss the value of a tax depreciation schedule in the Gold Coast.

For many, achieving a lower tax burden each year could be as simple as obtaining a proper evaluation of the rate of depreciation your property experiences. Don’t miss out on these valuable tax write-offs.

Tips for Seeking a Tax Depreciation Schedule in the Gold Coast

To take advantage of that opportunity, be sure to keep these tips in mind as you seek a professional’s advice:

  • Choose a provider that is thorough and dedicated to finding the correct answers.
  • Remember that depreciation for the structure itself applies to properties constructed after 18 July 1985. You may be able to improve your tax situation by re-assessing depreciation now.

Getting the Most Out of Tax Depreciation in the Gold Coast

With a schedule in hand, how do you make the most of it? These pointers can help.

  • Consult with your dedicated tax adviser to ensure that our depreciation schedule for your Gold Coast property helps yield the best return. Our fees are 100% tax-deductible, too.
  • Don’t forget that renovations and modifications can depreciate, too, potentially providing additional deductions for tax time.

About Asset Economics

In business for more than a decade and a half, Asset Economics boasts a diverse team of highly experienced quantity surveyors adept at providing an array of services. Among these, preparing depreciation schedules is one of our most popular services. Having prepared thousands in the past, we understand what to look for; try our tax depreciation calculator on your Gold Coast investment property for example. To find out how our efforts can save you cash at tax time, (please share your questions with us today).

Find the Most Useful Option for a Tax Depreciation Schedule on the Sunshine Coast

What goes into creating a tax depreciation schedule on the Sunshine Coast?

It takes a professional to answer that question. Trying to work out depreciation on one’s own can lead to costly mistakes, underestimations, and ultimately trouble later in the future. With Asset Economics, obtaining a dependable schedule you can use to better plan your taxes is easy.

Common Mistakes People Make with Tax Depreciation on the Sunshine Coast

We often see individuals who have struggled with depreciation on their own. Some of the most common mistakes include:

  • Misunderstanding what one can include on a tax depreciation schedule for a Sunshine Coast investment property.
  • Failing to consider depreciation over the long-term, and instead, looking only a few years ahead.

Our robust schedule preparation services help you avoid these errors.

What You Can Expect from an Asset Economics Depreciation Schedule in the Sunshine Coast

When working with our team, you will always receive:

  • Prompt, professional, and thorough service that takes care to examine your entire property.
  • Clear answers to all your questions throughout the process and within our final report.

Why You Can Trust Our Tax Depreciation Calculator for Sunshine Coast Properties

Alongside offering our services for the preparation of a complete schedule, we also provide a convenient way for you to see the value of this service. Using our depreciation calculator, you can input some basic facts and find a quick answer to the question, “What could I save on my taxes this year?” Built with our industry experience and real tax principles in mind, it’s an excellent place to start. When you’re ready to take the next steps, contact our team.