investment properties

BAN TACS Discount

BAN TACS $50 Discount with Deppro

Quantity Surveyor

To qualify for a $50 discount on your Deppro depreciation report follow the link to the right. In most cases the fee will only be $549.90 and more importantly we trust them to give you the right advice.

From Deppro:

What is Tax Depreciation?

Tax depreciation on a residential or commercial investment property is a deduction against assessable income allowing the owner to reduce the amount of taxation payable.

An investor is able to claim for two distinct types of depreciation on buildings;

Capital Allowance (referred to as Division 43)

This deduction is based on the historical construction costs of the property which may include surveying, engineering, architectural and building fees. However this cost does not include the land acquisition cost and site preparation. For residential property the property has to be built after 18 July 1985 and commercial properties July 1982. The rate of depreciation is fixed over either 25 or 40 years determined by criteria set by ATO legislation.

Plant and Equipment (referred to as Division 42)

Plant and equipment assets items are depreciated at a higher rate than that applied to the building depreciation. Assets included in this class are predefined by ATO legislation and the rate of depreciation is determined by the Commissioner of Taxation. The rate of depreciation reflects the Commissioners interpretation on the effective life of the asset to produce assessable income.