BRISBANE PROPERTY INVESTORS BENEFIT FROM TAX DEPRECIATION
Boost your tax benefits and property investment strategy with a Tax Depreciation report prepared by Brisbane Buyers Agency
To help our Brisbane property investor clients boost their tax benefits and overall investment strategies we prepare property Tax Depreciation Schedules.
Depreciation is a reduction in the value of an asset over time due to wear and tear. At tax time you can claim this wear and tear on assets purchased for income-producing purposes as a deduction on your Brisbane property.
Claiming depreciation allowances on your tax return helps you to maximise the return on your investment property and produce a healthier cash flow. It’s an invaluable component of a smart Brisbane property investor’s strategy. As a leading Brisbane buyers agent it’s a service we are proud to offer our clients.
How Is a Depreciation Schedule Prepared?
At Brisbane Buyer’s Agency we prepare a Tax Depreciation Schedule by doing a detailed site inspection, taking photographs and inspecting, measuring and quantifying buildings and plant. We prepare your Depreciation Schedule which sets out:
- the depreciation allowances you, as an investor, can claim on their property. This includes Prime Cost and Diminishing Value calculations so that you can select the optimum claim
- Division 43 Construction Allowance and Structural Improvement Allowance, which includes building fees, architectural and other professional fees, associated with the cost of construction
- Tax Depreciation Claim Summary that neatly summarises all the necessary information. It also includes adjustments for part-year claims, so that your accountant spends less time preparing your return.
You then give your Tax Depreciation Schedule to your accountant to prepare your tax return.
To ensure you can reap the most rewards we keep up to date with the continually changing legislation related to construction and depreciation claims. Our Tax Depreciation Schedules are prepared in accordance with the current legislation.
Prior to establishing Brisbane Buyers’ Agency Paul Palella founded quantity surveying firm Property Wealth Australia. At Property Wealth Paul helped thousands of property investors maximise the return on their property investment through the provision of Tax Depreciation Schedules.
Choose the Schedule that Suits Your Brisbane Property
We offer a range of Tax Depreciation Schedules to accommodate the different types of investment properties available.
The Streamline plus report is a Tax Depreciation Schedule for property investors with houses and units (residential and commercial). This schedule includes built-in items such as cooktop, oven, rangehood, hot water system, carpets etc. It excludes loose furniture items.
The report includes depreciation allowances and detailed photos of the buildings and internal plant included. In case of an audit by the ATO, detailed photographic records of your built-in fixtures and fittings will play an important role to streamline the audit process, saving your tax agent time and consequently you money. The Schedule includes built-in items such as cooktop, oven, rangehood, hot water system, carpets etc. It excludes loose furniture.
Loose Furniture, Fittings & Contents
This Tax Depreciation Schedule itemises all loose furniture and fittings in a house or unit. We include depreciation allowances and detailed photographic records of your fixtures and fitting.
Plant & Machinery – commercial buildings
This tax depreciation schedule itemises all loose plant and machinery. We include depreciation allowances and detailed photographic records of your plant.
Commercial, Industrial, Retail – Non-strata titled
This tax depreciation schedule itemises all items of plant, machinery and construction allowance for NON strata titled buildings. We include depreciation allowances and detailed photographic records.
It is a testament to Paul and his team that I was able to obtain such outstanding returns on my investment properties and with the added security of an included photo registry of assets I have more than enough information to provide to the ATO should I be targeted for a tax audit. The depreciation report experience was completely straightforward and painless even though it was performed whilst I was interstate and as such I have no hesitation in using or recommending Paul’s services for any depreciation requirements in the future.
I am pleased to confirm that I have been engaging the services of Paul Palella and his Company for over 8 years predominantly for the preparation of Tax Depreciation Schedules and plant and equipment appraisals.
The service has always been conducted in an extremely professional manner. His depreciation reports are continuously steadfast, a testament to the amount of effort that Paul and the team put in.
I am happy to advise that the tax depreciation reports prepared by Property Wealth Australia Pty Ltd have passed Australian Taxation Office scrutiny, a reflection of the comprehensive reporting and sound valuation principals adopted by the firm.
I have absolutely no hesitation in recommending any of the services offered at Property Wealth.
Professional Investment Services
I have been utilizing the consultancy services offered by Property Wealth Australia Pty Ltd for the past three (3) years.
In this time I have always found Paul to be a person who displays a high level of integrity and has a thorough knowledge of the subject matter he is involved with.
I will definitely continue to utilize his services into the future and have no hesitation in recommending Property Wealth to others.
I wish to thank you for your advice and professional services in the assessment of my 2 investment properties. I never realized the amount of depreciation that could be amassed by such a thorough report, and what impact this has meant to my personal taxation position.
I am sure that many people still go about their taxation preparation in the old way without taking professional advice, and end up with much less than they really should. Your report was a real eye-opener to me, and I have passed on the information that you recently sent me to my entire sales team.
I have a staff of 18 they are now better informed about the advantages of investment property ownership and the benefits of being better prepared. I have shown your report to my accountant and he agreed that is was a well prepared and researched document that will be invaluable for me.
You have an exceptional service ethic, and have been a pleasant person to deal with. I value relationship building in the service environment, and have been impressed with your personal attitude and attention to detail even when I was not so well organised myself.
I will recommend you to whoever I speak to about such matters. Thanks again for your service.
Confidential Tax & Business Services
We confirm that we have been using the services of the above named for the preparation of Depreciation Schedules and Building Cost calculations for over 3 years.
Paul has always provided accurate and well-detailed presentations in accordance with the requirements of the Australian Taxation Office.
We have been pleased with the work performed by Paul and would have no hesitation in recommending his services.
Sam Greco & Co
I have known Paul Palella for seven years. In that time, my practice has recommended numerous clients to him to prepare tax depreciation schedules.
We have found the quality of his schedules to be very good. They are reliable and comply with Income Tax legislation.
We have found Paul to be reliable and very good to deal with and do not hesitate recommending him. Please call my office if you require further details.
I am pleased to confirm that I have been associated with Paul Palella and Property Wealth for over eight (8) years.
In that time I have referred clients to him for the purposes of preparing Tax Depreciation Schedules and advisory services. I have always found Mr Palella and his associates to be extremely reliable, thorough and enthusiastic, with a professional work ethic, which I cannot fault.
It is refreshing to deal with a professional who always goes above and beyond in his approach to his work.
I have no hesitation whatsoever in recommending the services of Property Wealth.
The Property Office
I have known Paul Palella for four and half years.
In that time I have found him to be reliable and trustworthy in all the undertakings I have asked him to do for us at The Property Office. He has on a number of occasions, for matters that needed a swift response, gone out of his way to accommodate us.
I had no hesitation in providing him with this reference as we feel, he is and would be an asset to anyone he has dealings with.