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!!!