Use a professional, registered Tax Agent
Depwest are an ATO compliant and registered Tax Agent in accordance with the requirements of the Tax Practitioners Board. From March 1, 2010, all companies who prepare Tax Depreciation Schedules Read More…
Be organised – in case of the unlikely event of an ATO Audit!
It is very important to keep all receipts for post purchase expenditure – too often we speak to clients who have not kept a record or receipts usually because they Read More…
Consider your investment strategy
The intentions of the property investor will determine which depreciation method will be most suitable for them. By determining your strategy you will need to consider how long you intend Read More…
Be knowledgeable about your purchase
Obtain as much information from the selling agent/previous owner when purchasing a property. Very often renovations/additions have been completed on older properties, this will result in a capital works claim Read More…
Age is just a number! Irrespective of the age, new or old, your property will attract some depreciation benefit
Any residential property built before 18 July 1985 or commercial property built before 20 July 1982 cannot claim the capital works allowance as a deduction. However, Plant and Equipment items Read More…
Get ahead – organise your schedule straight after settlement
It is useful for investors to obtain a depreciation schedule just after settlement even if they are not completing renovations. Avoid disturbing tenants – complete the inspection prior to tenants Read More…
Obtain a depreciation schedule prior to any renovations/refurbishments
Typically, when a client purchases a property with the intention to renovate – they get started on this straight after settlement as they do not realise that Plant & Equipment Read More…