Tax Deduction Benefits Rewarded To Rental Properties

While calculating the taxes to be paid for the rental property, most property owners forget that they are also eligible for certain deductions for depreciation on rental property. In fact this is caused due to unawareness about the available legal tax deductions that every property investor can take advantage of. Actually, this is a little known fact that investment or rental properties are rewarded with many tax benefits in the form of property depreciation.

Depreciation on investment property is basically a tax deduction. It allows the tax payers or rental property owners to recover the cost of a property placed on rent. These tax deductions have to be calculated for both tax and purposes. Property tax depreciation is based on a set of rules defined by the Australian Taxation Office (ATO).

Basically, there are three main components of a depreciation schedule.

• Capital Works Depreciation: Capital Works Depreciation for investment property is based on the original construction cost of the building.
• Depreciation on Plant & Equipment: The property Depreciation on Plant & Equipment is calculated for items such as blinds, carpet, ovens and many more household items can be depreciated.
• Renovations and Improvements: This part of the depreciation on investment property is for Renovations and Improvements that is applicable for capital improvements done to the property.

Actually, the ATO has authorized only educated and experienced quantity surveyors to prepare a tax depreciation schedule/report for investment or rental properties in Australia. Hence, if you are looking for a quantity surveyor in Australia to prepare a tax depreciation report for you, Property Returns is one of the best options!!!

Property Tax Depreciation Benefits for Investment Property Owners

Investment property business is a growing sector today. And people are realizing that this is a great way to earn good money. Also, because of the property depreciation advantages this has become an extremely preferred sector.

As you might be aware that an investment property is not considered as a residential estate. Therefore, the tax calculations are also different. Investment property owner can offset the investment income by claiming the depreciation for investment property for the appliances and the assets it contains, because they are believed to deteriorate in value over the time. However, property depreciation is not taken all at once, actually it is calculated over a period of time.

Since having an investment property is a business, the income generated from it is treated as your gross income. Thus, the expenses incurred for running the business shall be deducted from that income. By the way, there are several expenses that can be deducted for property depreciation from the gross income, that include maintenance, interest on mortgage, insurance, advertising/marketing for tenants, and a few more.

Well, depreciation for investment property is one of the most common tax benefits available to investors. This is taken from the gross annual income that provides substantial tax savings for the investment property owner.

However, it’s not possible for everyone to prepare a tax depreciation schedule, because it requires comprehensive knowledge and credible experience. Moreover, the Australian Tax Office (ATO) has authorised only certified and proficient quantity surveyors to prepare tax depreciation schedules for investment properties.

So, if you own an investment property in Australia, and are looking for a reputed Quantity Surveying firm for getting a perfect tax depreciation schedule prepared for you, look no further than Property Returns!!!

You Won’t Miss Out Tax Deductions with Property Returns

Property investment is a lucrative business. The property prices have escalated in the past few years and property owners have gained good profit by selling the properties they have been holding. Also, those concerned with the rental property business are making good money, as the demands have improved due to increasing population and immigration in Australia.

Moreover, the depreciation on investment property has encouraged individuals to invest in the property business. However, property investors are often misinformed that property depreciation is only limited to new properties, but the fact is that any building irrespective of its age is eligible for some sort of claim for tax depreciation. Recent researches show that only 20% real estate investors take full advantage of the available depreciation for investment property.

Every year, several property owners lose potential property depreciation benefits by failing to take full advantage of the depreciation on investment property.

Do you have a professional tax depreciation report or schedule for your investment property?

If not, then you can do so by hiring a Quantity Surveying firm like Property Returns that specializes in preparing tax depreciation reports. This is the most effective way to ensure that you maximize your property tax deductions.

Property Returns is dedicated to providing the best possible service to its clients in Australia. The expert staff pays full attention to every detail and handles all matters professionally, to ensure that the clients receive maximum depreciation for investment property.

Property Returns is the market leader in the field of property depreciation and its clients include some of Australia's elite real estate investors. The organisation complies with all Australian Taxation Office (ATO) regulations, and therefore it is the best firm for getting the tax depreciation reports prepared.

Make The Most Of Property Tax Depreciation

Numerous tax benefits are available to property investors in the form of tax depreciation. Yet, many rental or investment property owners fail to make the most out of these property depreciations!!

Well, there can be two major reasons for this; first - may be because they are totally unaware of them, second - they may deliberately avoid these property tax depreciations due to the fear of tax audits!!!

But, with some knowledge about these property depreciation benefits, you can easily make your rental business a lot profitable than ever.

However, it’s not necessary for you to know everything about property tax depreciation, because there are experts who know everything, and they are always available to help you. They are known as Quantity Surveyors, and they specialize in preparing depreciation schedules for rental or investment properties.

Tax Depreciation Report

Expert Quantity Surveyors are well aware about all types of property laws, guidelines as well as the rules and regulations set by the government bodies for computing the property tax depreciation reports.

Once you hire an experienced Quantity Surveyor, all your issues related to property depreciation will be taken care of. They have ample knowledge and experience necessary for preparing comprehensive depreciation schedules.

The job of a Quantity Surveyor starts from inspecting the property, identifying each and every claimable item, to preparing the necessary documentation for property depreciation and finally filing the tax returns.

So, if you are looking for experienced and well-educated quantity surveyors in Australia who can prepare the most viable tax depreciation reports and help you get maximum tax returns, you must opt for the best Quantity Surveying Firm i.e., Property Returns!!!

Preparing Tax Depreciation Report as ATO Want You To

Most rental property owners forget that while assessing taxes to be paid for their property, they are also eligible for certain deductions for investment property depreciation. This unfortunate event is generally caused due to unawareness about the available tax deductions they could actually take advantage of. This is a little known fact that investment/rental properties are such real estate investments that are rewarded with many tax benefits in the form of rental property depreciation.

This tax depreciation on rentalproperty for landlords and owners of rental properties is calculated on the basis of the expenses made for the management, improvement, and/or conservation of the property. Just like any other business owner claim for his respective business, property owners should remember that they can also treat their properties as commodities that offer services to the customers that are tenants in this case.

Rental property depreciation is basically a tax deduction. It allows the tax payers i.e., rental property owners to recover the cost of a property placed on rent. Depreciation has to be calculated for both tax and accounting purposes. Tax depreciation on rental property is based on a set of rules defined by the Australian Taxation Office (ATO).

The ATO has also enforced that only a designated quantity surveyor should prepare a tax depreciation report. This is fairly important because there are various factors to be considered before preparing a property tax depreciation report. Quantity surveyor have ample knowledge and experience. This aids them to carefully analyze your investment property for depreciation and prepare a comprehensive tax depreciation report.

If you are looking for a quantity surveyor to prepare a tax depreciation report for you, Property Returns is the best for you!!!  

Avail Highest Depreciation on Investment Properties with Property Returns

Do you own real estate that you what to rent out?

Well, the current market conditions, and the tax depreciation on investment property are quite motivating if you intend to do so.!!

Besides the potential for an ongoing income and capital appreciation, rental property investments offer property depreciation deductions that can reduce the income tax you need to pay on the profits. But, to file your income tax returns first you need to get a tax depreciation report prepared.

There are several factors to be considered before preparing a property tax depreciation report, and only a professional Quantity Surveyor has the exact knowledge and experience needed to prepare a precise property depreciation schedule or report. Taking this in account, the Australian Tax Office (ATO) has authorised only certified Quantity Surveyors to prepare tax depreciation reports for  investment or rental property depreciation.

Quantity surveyors

Property Returns is one such Quantity Surveying firm that specializes in preparing accurate depreciation schedules for investment/rental as well as residential properties all over Australia. They have over 30 years of industry experience, due to which they have ample knowledge to help you get the highest depreciation for investment property.

Property Returns has its offices in every major Australian city including Sydney, Brisbane,      Melbourne, Adelaide, Perth, Darwin, Central QLD,  Cairns, and NSW. These offices are operated by a  trained staff that has all the knowledge about local building codes, costs and regulations. Each Property Returns office has a team of registered Tax Agents, qualified quantity surveyors and experienced property depreciation experts.

At Property Returns we believe that availing depreciation on investment property is the right of every investment/rental property owner and we are always ready to help you get that!!!