“After all”, he said, “you are not doing that good a job with it that I would want to donate more!”
Australians love property investment! With the inability of Governments to adequately house the population, it must fall to the private sector to provide quality homes to meet the demands of the rental market. To this end, there are many favourable tax advantages given to those who invest in rental property.
One of the greatest advantages is depreciation deductions for the plant and equipment supplied at/to the property. In many cases there also exists the ability to depreciate the cost of the building itself.
These all amount to “non-cash” deductions that can really help the bottom line.
The only way to do this properly is to engage a Quantity Surveyor. They attend the property, going through it to extract every possible capital item that can be written off and from this, prepare a Schedule that gives all the deductions – usually for a 10 year period.
At KHRE we have used and recommend the services of BMT Quantity Surveyors.
