Our Depreciation Reports and Schedules Service
Our Depreciation Reports and Schedules provide you with all the necessary information to claim depreciation on your residential investment property. Our inspector, Matthew, is registered with the ATO and licensed to carry out a quantity survey to produce an asset value, allowing you to depreciate your property for its 40-year life-span.
The Building Allowance is a deduction that lets property investors offset the hard construction costs, such as concrete and brickworks, of their investment property against their assessable income. This is commonly known as the building write off. Plant and equipment, on the other hand, is the allowance for removable items within the building itself, such as ovens, dishwashers, and carpets.
Our Reports
Our Depreciation Reports provide a detailed breakdown of the construction cost and assets of your residential investment property. The report will identify the building’s construction cost, including the cost of the foundation, walls, roof, and other structural components. It will also identify any plant and equipment assets, including items such as ovens, dishwashers, and carpets.
Our report will provide you with all the information you need to get the best rate of return on your investment at tax time. Your accountant will be able to use this report to save you money at tax time.
The Importance of Depreciation Reports and Schedules
Depreciation Reports and Schedules are crucial for residential property investors. They provide detailed information about the construction cost and assets of the property, which can be used to claim depreciation and reduce taxable income. Without a Depreciation Report and Schedule, you may not be able to claim the full amount of depreciation you are entitled to, resulting in a higher tax bill.
Contact Us
At Clear Inspections, we are committed to providing reliable and professional Depreciation Reports and Schedules services to our clients. Contact us today to book your Depreciation Report and Schedule and take the first step in maximizing your investment property’s tax benefits.