Make the most of your tax deductions and reduce your taxable income with a Duo Tax depreciation report. Our team of quantity surveyors and registered tax agents in Ballina will provide you with accurate quotes for residential and commercial properties based on your needs and budgeting requirements, so contact us today!
We specialise in helping investors understand the ins and outs of depreciation deductions on investment properties. With over 30 combined years of experience and a nationwide presence, we focus on the most aggressive form of tax depreciation, which means more cash in your pocket.
The Australian Tax Office (ATO) has recognised our quantity surveyors in Ballina as one of few expert professionals qualified to compile tax depreciation reports for residential and commercial investment properties.
We are committed to providing you with accurate, reliable and timely quantity surveying services that will help you pocket more cash from your investment property.
With Duo Tax quantity surveyors on your side, you won’t have to worry about missing any deductions or overlooking anything important when it’s time to lodge your tax return and claiming your depreciation deductions.
As avid investors ourselves, we want nothing more than investors to be able to take full advantage of their tax depreciation claim and get the most back from their property investment
Serving all Ballina suburbs and surrounds, including Wollongbar, Alstonville, Lennox Head, Wardell, Lynwood, Fernleigh, Pearces Creeks, Knockrow, Empire Vale, Cumbalem, Coolgardie, Bagotville, Uralba, Tintenbar and Pimlico, our local quantity surveyors can help you claim tax depreciation deductions.
As a building gets older, its structure and its assets are subject to general wear and tear. In other words, each year, the value decreases and thus, depreciates. When it comes to your investment property, these items are classified as either Plant and Equipment assets or Capital Works assets.
The ATO allows property investors, who generate income from their investment property, to claim the property depreciation as a tax deduction.
Division 43 Deductions refers to the deductions you can claim in relation to the property’s building structure. The effective life of the building structure of any residential or commercial property is 40 years. This means that you can claim deductions for depreciation over 40 years, provided that you’re generating an income from the property.
This also applies to construction costs for any improvements or expansion of the building.
The term “plant and equipment” refers to the fixtures and fittings found within the building and are generally easily detachable from the property.
The rate at which plant and equipment fixtures depreciate depends on the ATO’s Asset Effective Life Schedule, which gives guidance on how long an asset is effective before it’s worn out. The ATO recognises more than 6,000 different assets that investors can claim tax deductions on.
Claiming tax depreciation on investment properties involves identifying its value, estimated construction costs, and fittings and fixtures. A tax depreciation report is a comprehensive report detailing how much depreciation you can claim on your investment property to pay less tax.
The tax depreciation report document is typically prepared by a professional quantity surveyor, who will inspect your investment property and assign a value to each asset.
Duo Tax quantity surveyors are Australia’s most reviewed and highly-rated quantity surveyors and property valuers. As the country’s fastest-growing property tax depreciation and property valuations service, thousands of investors have entrusted us in helping them maximise their tax deductions each year.
Most first-time investors aren’t aware that property depreciation is the second largest tax deduction they can claim on their investment property after interest on loans.
Our mission is to help reduce the tax burden by providing the most affordable, convenient and aggressive tax depreciation report service so that you can maximise the return on your property investment.
Whether it’s for a residential property, granny flat, major renovation or commercial business, we’ve got the expertise and know-how to help you achieve significant savings. We have earned our reputation as one of the best quantity surveyor firms in Ballina for all your depreciation, construction cost estimations and property valuation needs.
All of our depreciation reports are ATO compliant, and we’re an affiliate member of the Australian Institute of Quantity Surveyors (AIQS) – the nationally recognised professional body for quantity surveying.