As a result of the recent changes from the Federal Budget 2017, claiming depreciation on renovated properties has vastly changed. Prior to the recent law changes, landlords were entitled to claim depreciation on pre-existing plant and equipment and any renovations that were carried out by the previous owner. As the new legislation has passed,
With legislative changes well sunken into the property market, it is important to visit the pattern as an investor moving into future years. Legislative changes imposed on the 9th of May 2017, no longer allows property investors to claim what is known as Division 40 depreciable assets on previously used assets for residential properties.
A recap of the year that's past with changes to Plant and Equipment Depreciation As we approach the end of financial year for 2018, Duo Tax Quantity Surveyors look back to see the impact and reach of legislation. In summary, most investors we come across have no idea about the changes. The change can
Do I need to engage a Quantity Surveyor, why not an Accountant? After all, it is depreciation that is being assessed for on my rental property. A quantity surveyor is a tertiary qualified professional that is degree qualified in the Science of Construction. They are Building Economists in that our specialty is independently identifying
Tuan Duong Principal at Duo Tax recently caught up with project builder Daniel Simone from Simone Homes based in Sydney. Below is his insight on how to make the most out of various new-build type properties on a block of land. Everyone wants to get more out of what they already have. So as an
Before we can begin to look into obtaining a Capital Gains Report, it is first necessary to understand what are Capital Gains (CG). Put simply, capital is the funding for us to build wealth, either as money or another form of financial asset. Capital Gains is the profit you make on the selling of assets which
