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Guest blog: Don’t get into hot water with claims

By the resi financial blog team, 28 October 2014

Repairs and maintenance or capital improvements?

Concerns about the cost of repairs and ongoing maintenance for an owner’s investment property can be reduced by claiming back these costs when an investor is completing their tax return. Before an investor can start to tally deductions, it is necessary to understand the difference between claiming repairs, maintenance and capital improvements.

Repairs and maintenance

Work completed to fix damage or deterioration of a property is defined as repairs, e.g. fixing par ...

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Guest blog: Invest smarter, claim property depreciation

By the resi financial blog team, 26 September 2014

Brad Beer

Smart investors claim property depreciation. Here are a quick few points about depreciation investors should be aware of:

* Investors can claim an average of $5,000-$10,000 in deductions on properties in the first full financial year
* Tax returns for the previous two financial years can be adjusted if you have not been claiming depreciation
* Every investor shou ...

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Guest blog: Outdoor appreciation increases depreciation

By the resi financial blog team, 25 July 2014

Outdoor appretiation for depreciation BMT

Outdoor appreciation increases depreciation

Claim deductions on outdoor structures and save

When it comes to claiming depreciation on investment properties, many investors are unaware of the deductions available on outdoor structures, fixtures and fittings.

Items outside a building can add value to a property. Rather than ignoring the street appeal, investors can include items in the yard or outdoor area to help attract potential tenants. The investor can then maximise their deductions by claiming depreciation on the eligible ...

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Guest Blog: Depreciation for renovations made easy

By the resi financial blog team, 30 June 2014

Tax depreciation for renovations

Understand scrapping

Scrapping refers to the removal and disposal of any potentially depreciable asset from an investment property. When worn or old assets (like carpet and hot water systems) are replaced and scrapped, the owner of the property may be entitled to claim the remaining depreciable value for the items being removed as a tax deduction in that financial year.

Get a “before renovation” tax depreciation schedule

Arranging a tax depreciation schedule before completing renovations will save you time ...

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Guest Blog: Brad Beer with a depreciation example with and without furniture

By the resi financial blog team, 14 April 2014

Tax depreciation example without furniture

Often property investors rent out their property fully furnished. Depreciating furniture can add thousands of dollars to the owners depreciation claim.

The below table provides an example of the difference that claiming depreciation on a $16,000 furniture package could make to an investor who purchased a two bedroom two bathroom unit:

Depreciation example

It is important that a specialist Quantity Surveyor prepares a tax depreciati ...

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