Do you own an investment property?

Are you confident that you are getting the maximum tax benefit – and the maximum return?

Tax depreciation (or ‘property allowances’) are deductions that are often overlooked by owners and advisors, but can be a powerful tool to reduce your taxable income, slash your tax bill and put more cash in your pocket.

Industry surveys have found that upwards of 70% of property investors in Australia are not maximising their property depreciation claims – in many cases this is simply due to a lack of understanding of the tax system, and their rights as a property investor.

For those with property investments, whether residential or commercial, Business Wise can prepare an appropriate structure and depreciation schedule to serve as a vehicle for a compliant and maximised return.

What can I claim?

To maximise the value for our clients we don’t just focus on standard deductions such as interest, rates and accountancy fees – but also assess often unknown or misunderstood areas of the tax code, including:

  1. Depreciating Assets: Capital Allowances (Division 40) are items that lose value more quickly – such as carpet, lifts and whitegoods.
  2. Building Allowances: Capital Works (Division 43) allows for claimable deductions for part of the original construction or refurbishment costs (depending on when your property was built).

How much can I claim?

This depends on a number of factors, including purchase date, the property type and your financial situation, but many owners can claim between 5-20% of the purchase price as depreciable assets. We find many real estate investors have been missing out on significant deductions – and the extra cash!

Why use Business Wise?

We are an Australian company that has been providing specialist taxation services since 1982. Our team of qualified and experienced professionals maintain both a working knowledge of the latest revisions from the Australian Taxation Office, as well as strong working relationships with industry partners – all to ensure that we can help maximise the value of your investment.

And as an added bonus, the fees to undertake this process are tax deductible!

To discover how Business Wise can maximise the return on your investment, contact us now.