80% of property owners are missing out on free money!

Any owner of a property that generates income is eligible to receive significant taxation benefits, free money if you will.

“Research shows that 80% of property investors are failing to maximise the deductions claimed from property depreciation and were, therefore, missing out on thousands of dollars in their pockets,” said Managing Director of BMT Tax Depreciation Bradley Beer.

“Depreciation is often missed because it is a non-cash deduction – the investor does not need to spend money to claim it,” said Brad.

As a building gets older, items wear out – they depreciate. The Australian Taxation Office (ATO) allows property owners to claim this depreciation as a deduction. Depreciation can be claimed by any property owner who obtains income from their property.
Both new and old properties have the potential to attract depreciation benefits for the owner to claim as a tax deduction. Don’t be fooled by the widely spread property misconception that older properties will attract no claim is mostly untrue; it is worth having an expert look into any scenario.

Ensuring that the depreciation claim is maximised on any building requires a combination of construction costing skills and a thorough knowledge of tax legislation. This rare combination of skills has resulted in a limited number of Quantity Surveying firms specialising in property depreciation.

At Awesome Lending Solutions, we often recommend clients consult the expertise of a qualified Quantity Surveyor such as BMT Tax Depreciation to maximise depreciation deductions for an investment property.

Visit the Awesome - BMT Tax Depreciation at Depreciation calculator to learn more about how property depreciation can help you see greater returns on your investment property.

Original article provided by BMT Tax Depreciation.  Article Amended by Albert Waldron
Bradley Beer (B. Con. Mgt, AAIQS, MRICS) is the Managing Director of BMT Tax Depreciation.

How much are you missing out on?