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

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

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.

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

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.

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.