A Tax Depreciation Schedule is simply a document that tells your accountant how much depreciation to claim on your investment property.
Depreciation on your investment property is just compensation for wear and tear. Buildings wear out. So do stoves, carpet, etc – especially with tenants. So you get to depreciate them, or write them down, a bit every year.
Tax Depreciation Schedules are Tax Deductible
Depreciation Schedules are already great value as they typically provide an excellent return on Investment. Quite possibly the highest return on investment of any investment property related expense. Depreciation Schedules are even better value when the cost is also 100% tax deductible.
Why Accountants Can’t Produce Tax Depreciation Schedules
‘Can’t my accountant just do it?’ That’s what many people ask when they’re needing a Tax Depreciation Schedule. The problem is that accountants don’t have the skills to estimate what an investment property might have cost to build, or renovate. The people best qualified to do that and produce your Depreciation Schedule are quantity surveyors.
Accountants used to have a stab at estimating construction costs, but the ATO put a stop to that. So hundreds of accountants now send their clients to us when they need a Depreciation Schedule.
They send their clients to us because they know we keep on top of the rule changes, and because they know that when they get one of our Depreciation Schedules it will have exactly what they need.
Here is what one of these accountants has to say about us and our Depreciation Schedules:
‘My firm has used Depreciator for several years. We have always found them to be professional and the reports they produce have always been easy to follow when we use them for tax return preparation. I even use them for my own properties. I’ve referred numerous clients to them. Why? Because they are easy to deal with, they take good care of my clients, they know the rules inside out, and their Depreciation Schedules are easy to use – as an accountant I have seen some terrible Schedules in the past. They have always been helpful. If a client has lost a schedule they will promptly provide a soft copy at no charge. I believe they are amongst a select few that are reputable in the industry.’
Strategic Wealth Management Pty Ltd
Why not call us on 1300 66 00 33 to find out how easy it is to get your Tex Depreciation Schedule.