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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: 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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Guest Blog: Brad Beer with 3 property depreciation tips

By the resi financial blog team, 02 April 2014

3 property tax depreciation tips

Three property depreciation tips

Smart investors claim depreciation. Here are three tips to help investors maximise their claim:

1. No property is too old
A common myth is that older properties attract no claim. However both new and old properties attract depreciation deductions.

2. Claim capital works deductions and plant and equipment
Property depreciation can be claimed as a capital works deduction for the structural element of the building and for the plant and equipment assets co ...

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