It’s the time of year when we take a deep breath and reflect on the tax season that was. Most of the Depreciation Schedules we do are on what we think of as ‘vanilla properties’. That doesn’t refer to the colour, more that they are standard residential or commercial properties with few surprises. Then there …

Continue reading "Something You Didn’t Know About Depreciation – What are our strangest depreciation requests this tax season?"

They’re getting better, the ATO. Better at knowing exactly what your clients are up to. And the leaps in data matching will only accelerate when that pesky AI thing really hits its stride. As you know, under Australia’s self assessment system, the ATO charitably assumes the information people give them is correct and they will …

Continue reading "What does the ATO know about your clients?"

Before June 30, it’s usually clients asking us questions. Lots of them.  Then after June the pendulum swings and it’s accountants asking us questions, while clients scurry off and leave you to it - assuming they have given you everything you need to do their tax return. We’ve grown accustomed to the rhythm over the …

Continue reading "What questions are accountants asking us about Depreciation this tax season?"

The 4% rate for the Special Building Write-Off is a great thing and not surprisingly we have many clients who are keen to claim it. It’s also not surprising that the ATO are fairly strict on what buildings and situations qualify. And it won’t surprise you to know there are some grey areas. If in …

Continue reading "When can Capital Works depreciation be claimed at 4% vs 2.5%?"

Simple. By answering lots of questions your clients would otherwise ask you, and helping them get better organised before they see you. We’ve been doing this for a long time, over 20 years, so we know how best to prepare your clients before they see you. First step is to make sure your clients have …

Continue reading "How can Depreciator save you time this tax season?"

First up, you might wonder why they are asking us and not you. We might be a bit easier to get through to, especially at this time of year, and most clients know we are happy to have a chat about depreciation related stuff. We’ve been doing this for 22 years now, so there is …

Continue reading "What questions are your clients asking us right now about depreciation?"

Without your help, they might not be.  And who is there to help you? Depreciator. We’ve been doing this for over 20 years, so we know all the ins and outs of depreciation. Commercial, residential, even farms. If you have a client  you'd like us to help claim depreciation on a residential or commercial property, …

Continue reading "Are your clients maximising depreciation?"

Chances are you’re not. Some of them even we find tricky, and we have been doing Depreciation Schedules for over 20 years. If you aren’t doing it properly, your clients might be missing out on deductions. Sure, if it’s just a small factory and the client has just installed a mezzanine and some racking, that’s …

Continue reading "Are you depreciating commercial fitouts correctly?"

We’re not talking here about the Depreciating Assets, or Plant and Equipment, but we’ll touch on them - we have covered these previously. We want to focus this month on the ‘structural improvements’, or Capital Works, additional to an actual building. Some Quantity Surveyors miss them, and that means your clients miss out on some …

Continue reading "What can be depreciated beyond a building?"

It's something we get asked often. You might, too. Our answer is always, 'It depends'. We follow that up with pointing out that the depreciation deduction should not be the main factor in making a purchase decision, though it is a nice deduction to take off the table every year with no need to outlay …

Continue reading "Which has more depreciation? Houses, apartments or commercial properties?"