Property Depreciation Explained
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Property depreciation is all about saving money. It’s a legitimate and straightforward way of reducing your taxable income. Here are 3 great reasons for claiming depreciation on your investment properties:
Depreciation is about claiming for the wear and tear in your investment property over time. It recognises the building and its internal furnishings and fittings will become worn over time and eventually need to be replaced.
How Much Can I Claim?
How much depreciation you can claim on your property really depends on many different factors, such as: the location, age of the property, etc.
Property investors should avoid estimating their own deductions as you risk submitting an incomplete depreciation report which will cost you a lot in missed deductions. You might also face an Australian Taxation Office (ATO) audit if the report fails to meet their standards.
IMPORTANT: If you’re ready to maximize your tax return and put more money back into your pocket, then click here to find and download the depreciation report for your property now.
Your Questions About Depreciation Answered
Got a question about depreciation we haven’t answered?
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