Could some of your Depreciation Schedules be wrong?
Many Depreciation Schedules produces in the latter half of 2017 did not take in to account the post-2017 Budget changes to Depreciation. If all the schedules your firm has for clients from that period are from Depreciator you have nothing to worry about. If not, you’ll need to check they are correct.
Why are some Depreciation Schedules incorrect?
- New Depreciation legislation passed through parliament in Mid-November 2017 but it’s retrospective from the 9th of May 2017.
- Most providers did not issue 2017 Budget compliant Depreciation Schedules until after mid-November 2017.
- Changes to Depreciation legislation are rare and it caught many by surprise.
- Changing systems to accommodate the now more complex Depreciation landscape can take some time, which is why some were slow to act.
How can you determine if a Depreciation Schedule is correct?
To find out how much depreciation you may be able to claim on your investment property just give us a call on 1300 66 00 33. In a few minutes, our friendly staff will provide a FREE estimate of your depreciation and a no-obligation quote to produce a Tax Depreciation Schedule for you.