What is a property depreciation report?
A property depreciation report (also called a depreciation schedule) sets out all tax depreciation and building write-off claims for a new or existing investment property. A DEPPRO property depreciation tax report provides a 40-year schedule for capital works allowance (building write-off) and depreciable assets (plant and equipment allowance) on an investment property, ensuring owners receive the maximum tax entitlements. Based on your allowances, the report calculates the amount you can deduct each year as part of your tax return.
What can tax depreciation do for investors?
Claiming tax depreciation allowances on an investment property increases its value by giving investors greater return on their investment. Depreciation allowances combined with additional negative gearing factors such as interest on a mortgage, repairs and maintenance can help investors reduce their taxable income, pay less tax and improve cash flow. The savings made can then be redirected to other areas, such as an investment mortgage or other debt reduction. DEPPRO can help all owners achieve maximum tax benefits from their investment property, no matter the size or age.