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What is considered a repair or improvement and how does that affect my depreciation?

Investors incur property related expenditures when undergoing renovations, replacements or repairs. These may be required when the building is rundown, in need of repairs or as part of the investors 'value-adding' strategy. More often, investors are asking how to differentiate whether it is considered a repair, a capital or a replacement as the tax

By |2020-02-05T16:53:58+11:00February 11th, 2020|

Has your investment property been affected by the recent bushfires? Some ways a quantity surveyor can help with respect to insurance claims.

Is your property properly insured? Recently, Australia has been hit by a bushfire crisis where thousands of homes have been damaged and even destroyed. Property owners will need insurance in case the worst comes to fruition however, figuring out how much to insure can be tricky. If the insured value is too high, the owner

By |2020-01-29T14:17:21+11:00January 29th, 2020|

Can I claim depreciation on a second hand or existing property?

Have you purchased or already own a property which is second hand or existing? It is a common misconception that existing properties do not yield any worthwhile depreciation. At Duo Tax, we are actively educating investors on the relevant laws and tax deductions available within investment properties and find that the above is not

By |2019-11-06T10:30:52+11:00November 12th, 2019|

When is the ideal time to purchase a tax depreciation schedule?

Tax Return deadline for self-lodgements to the Australian Tax Office (ATO) For your 2018-19 tax returns, it is important to keep in mind the deadlines set by the ATO. Tax returns must be lodged prior to the 31st of October 2019 as any lodgments made after this date may be subject to a ‘failure

By |2019-10-15T10:10:00+11:00October 15th, 2019|

Demolition, removal or clearing of an existing house or office? You’re entitled to claim tax deductions.

If you are looking to renovate an investment property, you will want to consider getting a scrapping report to immediately deduct assets you plan on demolishing or throwing away. Assets that are to be thrown away or “scrapped” can be claimed for 100% of their current value as a loss and offset your taxable

By |2019-09-17T16:49:37+10:00September 16th, 2019|
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