We provide our clients with the most accurate and thorough 40-year tax depreciation schedules for their construction, residential or commercial investment property projects. So, get a free estimate on our quantity surveying services by calling us or filling out the online form.
For a property investor, maximising your depreciation deductions is key.
At Duo Tax, not only do our quantity surveyors specialise in cost planning in the construction industry, but they are also recognised by the ATO as one of the few expert professions qualified to compile an investment property tax depreciation report for both residential and commercial property investors.
Our expert team of tax agents know how to draw up depreciation reports that will maximise your tax deductions for investment properties, saving you thousands in taxes each year.
It's not just about getting your taxes done on time; it is also about making sure that you don't pay more than what you owe. We know this because we are avid property investors ourselves! And if there's one thing we've learned over the years, it is that every cent counts!
We have over 30 years of combined experience working with investors like yourself and our team is committed to helping simplify the process of claiming your depreciation deductions.
Whether you’re located in Alison, Empire Bay, Green Point, Kariong, Mannering Park, Point Clare, Saratoga, Tascott, Yattalunga, Canton Beach, Blue Bay, Holgate, West Gosford, Lake Haven, Umina Beach and surrounding areas, our Quantity Surveyors on the Central Coast have your properties covered.
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 refer to the depreciation of the structure of the building. The structure of a residential and commercial building generally has an effective life of 40 years. In other words, you can claim the decrease in its value for a deduction for 40 years, provided that you’re generating an income from the property.
You can claim a capital works deduction on construction costs too.
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.
For example, light fittings and freestanding lights have an effective life of 10 years.
Claiming tax depreciation on investment properties involves identifying its value, estimated construction costs, and fittings and fixtures. A tax depreciation schedule is a comprehensive report detailing the tax depreciation deductions you can claim on your investment property to pay less tax.
The tax depreciation schedule document is typically prepared by a professional quantity surveyor, who will inspect your investment property and assign a value to each asset.
With over 30 years of combined experience, Duo Tax has earned its reputation as one of the best quantity surveying firms on the Central Coast for all your depreciation, and property valuation needs as well as estimations for construction costs.
Our team of qualified quantity surveyors have the expertise to help you complete your tax depreciation schedules with accuracy. We can provide you with a hassle-free service, ensuring that you receive the maximum allowable depreciation deductions for your property.
We are committed to delivering exceptional results every time with competitive pricing at the forefront of our values.
All of our 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.
Our free online rental property depreciation calculator will give you an accurate assessment of your project and its cost, potential savings and cash return.