Tax Depreciation
Average Depreciation for Port Macquarie Home
Last month we looked at some depreciation deductions for a typical unit in Sydney. We chose a rather average unit and this month we’ll be doing the same with a house in Bonny Hills, which is near Port Macquarie. It’s easy to pick an eight million dollar unit and talk about how fantastic the deductions…
Read MoreWhat are Scrapping Schedules?
Authors Note: Scrapping schedules have been impacted by legislation changes and in most cases will not suit your scenario. See more information here – Scrapping Schedules – Why they’re a thing of the past. The term ‘scrapping schedule’ is thrown about a lot these days, and to be honest, it’s a term that is more…
Read MoreWhat 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 MoreThe pitfalls of specialisation; Depreciation deductions maximised with estimating department
We live in a world of specialists, and for the most part, it’s a good thing. We use buyers’ agents to find us the best real estate, mortgage brokers to find us the best loan and comparison sites just to help us compare different companies. Why? Well the majority of the time it’s because we…
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…
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