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1. Property Depreciation is one of your greatest tax deductions for your investment home.
Since the introduction of negative gearing, taxpayers can offset rental income and claim expenses associated with their investment properties. As an investor, you can claim depreciation for the ageing and wear and tear of your building and assets during its effective life. The building’s depreciation value is...
This depreciation case study features a new development in Albury New South Wales. Our clients, Don and Nancy purchased a two-bedroom, two bathroom apartment in the new Hamilton development.
This stylish apartment featured:
• Open plan living area with luxurious fittings
• SMEG kitchen appliances including dishwasher and conventional microwave
• SMEG cook top (induction or gas) and SMEG oven
...
Since the pandemic, Southeast Queensland has seen a huge influx of interstate migrants. Many are looking to buy or invest in sought after areas in Brisbane’s Bayside suburbs.
Our savvy investors, Jim and Gen, tapped into this growing trend and purchased an apartment in a newly built boutique development in September 2021. Known as the Lane Residences, the complex is ideally located...
In this case study, we’re reviewing the depreciation allowances on a new two-bedroom apartment, part of the architecturally inspired residential complex, Lofts III developed by Landpearl.
The Lofts III is a collection of meticulously designed residences with beautiful gardens, offering the perfect blend of convenience, tranquility, and luxury living. Located in Sydney’s flourishing Inner West, Homebush is central to many retail...
Geelong West is a cosmopolitan suburb of Victoria, containing Geelong's oldest and most dynamic shopping strip, Pakington Street. Since the 1980s, Geelong West has undergone great changes. Timber houses and cottages have been renovated and many shops along Pakington Street have become cafes with style.
Some savvy investors, like our client, Penny saw...
You’ll be surprised to discover, sometimes buying, and renovating properties with no depreciation value remaining can be a good thing. In this tax depreciation case study, our savvy clients purchased a former run-down hostel with 13 individual rooms for let. This humble property is situated on a 913sqm corner block in the trendy inner-city suburb of West End, less than 2km...
Designed to impress, 15 Young Street is nestled amongst Sydney’s newest city village, Quay Quarter. These striking apartments feature rich masonry facades complimenting their luxurious interiors. The rooms are stylish and full of modern fittings and fixtures to enjoy, while admiring magnificent city and harbour views.
Completed earlier this year, investors buying these new apartments can receive substantial tax benefits through...
2021 has been a huge year for the building industry. New builds and renovations were a top priority for homeowners and property investors. Savvy investors can claim depreciation on both the Building and Plant & Equipment for their renovated properties and assets, but its all in the timing.
This case study examines the value of depreciation on a renovated secondhand...
Recently, our Property Tax Team prepared a depreciation schedule for our clients who purchased a two-bedroom apartment in a residential complex at Rosebery, NSW. The apartment included access to swimming pool, sauna, gym, plus lift and underground carpark.
Our clients bought the property as an investment before the legislation change came into effect on 9th May 2017, so they were eligible...
Continuing the trend of investing in newly built homes in the suburbs, our client purchased a contemporary low set home in Belmont, one of Geelong’s oldest, largest and most popular suburbs in Victoria.
Our Property Tax team inspected the property to assess the Building and Plant & Equipment items to prepare a tax depreciation schedule.
This free-standing new property is one of...