Rental Property Depreciation Schedules

Click for – Depreciation Schedule Example

Claiming the maximum available rental expenses for your rental property is essential to achieving a profitable investment. The property and many of it contents are your assets that with wear and tear, depreciate in value over the years .

In many cases the ATO allow you to claim a deduction against your rental income for the decline in value of your assets, thus reducing the amount of tax you pay.

Matt Turner QS Services can identify for you, the assets you can depreciate, value them where required and provide a detailed depreciation schedule that you pass onto your tax advisor for inclusion in your next and future tax returns.

Generally it is best if Matt Turner visits the property so that all assets can be identified and details recorded. Where possible, if cost records such as receipts are available, this information is used in the schedule. If no cost records exist, no problem, as Matt Turner QS Services are qualified under tax ruling 97/25 to estimate these costs.

What will you get from Matt Turner QS Services?

• Personal service from Matt Turner
• I will visit the property and complete a full inspection and measure.
• A detailed 40 year report of all your depreciable assets including:
  • photographs of assets
  • a cost estimate of the initial build,
  • A detailed cost estimate of a any renovation or upgrades completed either by yourselves or the previous owners.

• I will arrange the inspection of the property with the tenants and property manager.
• I will contact council or other parties to establish the age of the property or approved renovations
• The report will be completed within 5 working days or less if quoted.
• No deposit required – payment on completion.
• An electronic copy of your report emailed to you and a if required, a printed copy posted to you.

Contact Matt Turner 04 7777 1956 for a fixed quote and remember the cost of the report is a claimable expense.