February 2019

Amending Tax Returns to Capture Depreciation on Previous Years

By | 2019-02-18T16:40:55+00:00 February 18th, 2019|Advice|

As an investor, you may have recently come to terms with depreciation and may have been unaware that you were entitled to claim deductions on your rental property. You may have thought your property was too old when it actually qualifies for depreciation – act now before it's too late! Besides the ATO allowing

January 2019

Depreciation on renovations – what are substantial renovations and do I qualify?

By | 2019-01-14T14:46:59+00:00 January 14th, 2019|Advice|

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,

September 2018

Capital works deduction and depreciation – how will it affect you?

By | 2018-09-27T09:43:48+00:00 September 26th, 2018|Advice|

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.