Property Tax Benefits

Welcome to the property tax and quantity surveying section of the Propertyinfocus.com.au website.

Did you realise that your investment property can save you thousands of dollars each year on your tax return?  Approximately 80% of property investors are unawair of this great tax minimiser called property depreciation.

Just like a motor vehicle depriciates in value over time, so do investment properties.  If a property produces an investment income for the owner, the Australian Taxation Office (ATO) has provisions which allow the owner to use the depreciation value of their investment property to offset their assessable annual income in the form of a tax deduction.

To be able to successfully claim property depreciation as a tax deduction, you must have a tax depreciation report or tax depreciation shcedule prepared for you by a qualified quantity surveyor.  Once you have had the tax depreciation report or tax depreciation schedule finalised, you can provide the report to your accountant who will include the deduction in your future income tax returns.