Maximising tax benefits on your investment property involves understanding the various deductions and strategies that can help reduce your taxable income. Here are four reasons why it is essential to obtain a tax Depreciation Schedule for your investment property.

1. Tax Depreciation Schedule Should Be Included in Every Property Investor’s Annual Tax Return

2. New and second-hand properties are eligible for depreciation

3. It is never too late to claim depreciation on your investment property

4. The Tax Depreciation Schedule fee is 100 per cent tax-deductible.

What you need to know  before the October 31 Tax Return Self Lodgement deadline

Residential capital gains tax calculations clarified.

CGT event K7

The revised legislation allows some property investors to reduce their liability for capital gains tax (CGT) by claiming capital losses on denied plant and equipment depreciation deductions, referred to under CGT event K7.

Common myths in property investment, by Bradley Beer, Chief Investment Officer from BMT Tax Depreciation.

Investing in property offers investors a chance to build wealth; nevertheless, it’s crucial to be cautious because misleading and deceptive information is prevalent, potentially leading investors astray.

BMT Tax Depreciation explore some common myths and potentially dangerous advice on property investment including:

1. · Only wealthy people can invest in property

2. · Investors should only buy new

3. · It’s best to limit purchases to familiar locations

4. · Property investment guarantees quick wealth accumulation

5. · Don’t worry about claiming depreciation – it only increases your property’s cost base

Things to do as an Australian Expat before you renting your Australian Investment property.

 Are you considering converting your current home into an investment property? It's a smart move to increase your cash flow, but there are essential steps to take before renting it out. Here are six crucial tasks to complete:

Tax Depreciation Case Study: A new Townhouse purchased for $890,000.

The BMT Tax Depreciation and Quantity Surveyors specialist, Bradley Beer, shared an insightful case study with us, shedding light on the advantages of obtaining a comprehensive tax depreciation schedule for your investment property. This study offers valuable insights that can enhance your understanding of the benefits associated with this strategic financial approach.

How to prepare your investment property for the new financial year.

At the start of the new financial year, property investors have a valuable chance to review and enhance their investment approaches. Here are the key factors you need to consider;

1. Know the important tax dates.

2. Know which deductions you can claim. 

3. Prepay expenses.

4. Keep records.

5. Go through an accountant.

6. Maximise deductions with depreciation.

2023 Edition - Written by Head of Accounting Dean Crossingham

Expatriates encounter many complexities in managing their Australian taxation affairs.

Such complexities include managing tax residency, structuring real property and investment portfolios, dealing with foreign trust estates as well as making the best use of Australian superannuation, to name a few..

Insights into the SUCCESS of The Block and why its properties are attractive to investors.

THE EXPATRIATE Tax Depreciation Specialist Bradley Beer from BMT Tax Depreciation and Quantity Surveyors shares his insights into why The Block Properties are so attractive to astute property investors

Six Key Features to look for in an investment property.

Whether you’re a first-time investor or have an extensive property portfolio, there are important things to consider when deciding on an investment property.

Six Ways to build your investment property portfolio

Building a property portfolio is a rewarding yet often complex process which requires planning, research, consulting, and, most of all, strategy.

How do you know where to begin? Here are some key steps to building your investment property portfolio and how to get started.

New ATO ruling affecting Australian expatriates.

What is the ATO’s new ruling on an individual’s tax residency status?

A newly published draft ruling should be favourably received by Australian expatriates as compared to any proposed statutory changes to Australia’s residency rules.

On 6 October 2022, the Australian Taxation Office (ATO) released Draft Taxation Ruling TR 2022/D2 outlining the residency tests for individuals for tax purposes, including the Commissioner’s updated views on when the ATO considers a person will be a resident of Australia.

Tax Depreciation FAQ

What is depreciation?

As a building gets older and items within it wear out, they depreciate in value. The Australian Taxation Office (ATO) allows property investors to claim a deduction relating to the building and fixtures it contains. Depreciation can be claimed by any owner of an income-producing property. This deduction essentially reduces the investment property owner’s taxable income.

On Wednesday 24 August 2022, Assistant Treasurer and Minister for Financial Services Stephen Jones reminded us that the proposed changes to Australia’s tax residency rules are currently under review by the government, as is the controversial “45-day rule”.

Rentvesting: the investment strategy for you

The Australian Dream is becoming a distant memory for many people who no longer believe owning a home is attainable. With property prices having soared in recent years, people are establishing other home-owning strategies to reach their goals.

We are seeing rentvesting become a progressively popular home-owning strategy.

What is a quantity surveyor and why is a site inspection required?

A quantity surveyor is a professional who specialises in estimating the value of construction costs and other assets. Quantity surveyors are different from your usual tax accountant, they hold a different professional license to practice from your tax return accountant.

A Beginner’s Guide to Property Depreciation

Property investors are entitled to several taxation benefits however many fail to take full advantage of the depreciation deductions available to them.

While most investors are aware of claims for expenses such as interest on their loans, council rates, property management fees and repairs and maintenance costs, depreciation is a hidden factor often not considered.

Hong Kong borders closed until 20 April - how is my tax residency affected?

Due to the ongoing COVID-19 pandemic, the Hong Kong Special Administrative Region Government has imposed a ban on flights arriving from a number of countries, including Australia, until 20 April 2022.