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The Melbourne Residences – Rippling Facades and Ripping Deductions
If there’s one thing we love, it’s repeat clients. Obviously, it’s great to do another schedule and that they trust us as the depreciation experts, but what excites us more is that our investor clients and building their portfolio and hopefully dramatically changing their retirement lifestyle in the process. This repeat client bought a unit…
Read MoreCase Study – Ikebana luxury apartments, 130 Dudley St, West Melbourne VIC
It’s not terribly often we have a case study with a strong Japanese influence, let alone such a rich and detailed effort to showcase the majesty of the architecture. The word Ikebana translates as the Japanese art of flower arrangement and is an apt name for this stunning new development. Ikebana luxury residences comprise of 248…
Read MoreTax Depreciation Calculators – Is there merit in the estimates?
Google is telling us that more and more people are searching for a ‘tax depreciation calculator’. Admittedly, this search ranked well below the top 2016 result of ‘US Election’ and even a few million short of number 6 ‘Pokemon Go’. Putting the self-deprecating Quantity Surveyor stuff to the side for a moment, searching for an…
Read MoreCapital city dwelling values up, with pace of growth slowing.
Across the combined capital cities, dwelling values have increased by 7.1% over the 12 months to September 2016, a figure much lower than the 11.0% increase in values over the previous 12 months. So, whilst dwelling values certainly aren’t tracking sideways, the pace of growth has slowed markedly, yet is still relatively strong. Rental rates…
Read MoreMelbourne Southbank’s Bella Apartments – A Depreciation Case Study
The iconic and aesthetically pleasing Bella Apartments is a landmark of Melbourne’s Southbank. We were delighted to prepare another depreciation schedule for one of the units just this week and thought it would be great to provide an insight into the development. Salvo Property Group’s $55 million Bella is a 33 level tower comprising of…
Read MoreGood news for property investment co-ownership with split deductions.
The proportion of properties jointly owned is quite high, and with greater education on tax minimisation practices, we’re seeing a lot more obscure ownership percentages like 70/30 or even 99/1. Why are people employing these types of ownership structures? It all comes down to which party can benefit the most from the deductions. Take for…
Read MoreCoreLogic dwelling values rise in September, RBA place doubt over previous figures
The month of September was a good one for capital city dwelling values, with all but Perth and Darwin trudging forward. Capital city values are also up 2.9% over the quarter. On these figures though, there has been a lot of coverage of the inflated CoreLogic figures for April & May. In RBA governor Glenn…
Read MoreProperty in Scotland – Is it the next hot spot for you as an investor?
Pardon the tongue-in-cheek title, but the whole hotspot thing can be a little tiresome. We are much more in favour of long term fundamentals than volatile pockets and mining towns. What do we here at MCG know about the Scottish property market? Absolutely nothing! However, when one of our clients asked us to complete a…
Read MoreOverseas Investment Properties & Depreciation
Whilst it’s certainly not the sort of reports we target, a number of our clients own investment properties overseas. If you’re claiming the rental income in Australia, then you’re entitled to minimise your tax via having a depreciation schedule completed. To date we’ve completed many reports for overseas investors in places like the United States,…
Read MoreUnit Renovation Case Study
Our latest case study is a cracker. It showcases what can be done within a small space and smashes a commonly held myth that a property built before 1987 will never have any depreciation deductions. The unit was in Mona Vale, in Sydney’s beautiful northern beaches. It is a two bedroom, one-bathroom unit in a…
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