Property Investing
What will a new kitchen do for you?
What will a new kitchen do for you?Updating a kitchen can be a fantastic way to increase both your rental yield and the capital value of your investment property. We’re often asked what a new kitchen will do for depreciation deductions. Ignoring any scrapping component discussed in the adjacent article, let’s take a look at…
Read MoreAn Average Sydney Unit’s Depreciation
We thought it would be illuminating to take a look at a fairly average Sydney unit, look at some of the key components and the depreciation deductions. Rather than picking a unit with massive deductions and common property galore, we’ve taken a more conservative approach and dispensed the chest beating in favour of an honest…
Read MoreClaim Tax Depreciation Entitlements
In the 2010/2011 financial year, the ATO reported that there were 1,811,174 individuals that owned a rental property. If you’re one of those investors, it’s crucial to ensure you’re claiming your depreciation entitlements. Many property investors dutifully pay their tax every year, without exploring the entitlements available to all Australian taxpayers. If unaware of your…
Read MorePrestige Residential Units & Depreciation Deductions – How do they stack up?
We’ve prepared a number of depreciation schedules on prestige residential units recently and thought to offer some insight into some of the major depreciable components and overall deductions. One particular prestige development was “The Residence” on Hyde Park. The development comprises 87 luxury apartments over 23 levels with unparalleled views of Sydney’s city skyline and…
Read MoreDepreciation on residential buildings – Why 1985 doesn’t matter anymore
It’s amazing how certain aspects of tax depreciation stick in the minds of property investors and real estate professionals. One such example is the residential cut-off date for depreciation on the building structure. Most investors know that 1985 is an important year for depreciation, and many assume that a property built before 1985 will not…
Read MoreNeed us in Canberra? We’re there!
Our clients have spoken, they need us in Canberra. We’re pleased to announce that we’ve listened! To celebrate the launch into the nations capital, we have a special offer for all ACT property investors. Give us a call on 1300 795 170 or visit www.mcgqs.com.au Find out why investors are choosing Australia’s fastest growing Quantity…
Read MoreIs your Quantity Surveyor endorsed by the Australian Tax Office (ATO)?
We’re no strangers to the politics of fear, thanks in no small part I suppose to the Bush administration. It’s true that fear is a very powerful emotion, and one that can be used to positive and negative ends. Take for example, products and services. We all have a fear of buying an inferior product…
Read More4 Things you need to know about depreciation this tax season
It’s that time of year again where television advertisements start battering us with acronyms like ‘EOFYS’ and shoe boxes of receipts are clutched in trembling hands gripped by the terror of a looming tax return. Whilst fear and dread might be the default emotions for many at this time of year, for property investors it’s…
Read MoreWhich terms in real estate ads result in higher prices?
In a recent study in Canada by a Professor Paul Anglin, an analysis of the language used in real-estate ads shows that certain words are strongly correlated with the final sale price of a house. Surprisingly words like ‘charming’, ‘spacious’ and ‘fantastic’ do not equate to a higher sale price. The study dissected the wording…
Read MoreATO Tax Depreciation Effective Lives – Depreciation Rates for 2013/2014 under Tax Ruling 2013/2014
*Note – These effective lives are now covered by TR 2019/5. The best up to date list is here https://www.mcgqs.com.au/ato-effective-lives-2019-2020-depreciation-rates.php We’re frequently fielding questions about the specific effective lives for residential property, so we’ve decided to post the current effective lives here. These effective lives are current at the time of posting, and come from…
Read More