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Be depreciation aware when preparing your tax return

With 2014/2015 financial year now at an end, Australian’s will be frantically pulling out receipts in preparation for completing this years’ tax return. Property depreciation is an area in which many investors fail to maximise their deductions and claim the full entitlements available. Claiming depreciation for any income producing property will significantly increase an investor’s cash flow.

On average, a BMT Tax Depreciation Schedule will find between $5,000 and $10,000 in depreciation deductions on a standard residential property within the first full financial year alone. Property depreciation is often missed as it is a non-cash deduction meaning that an investor does not need to spend any money to be able to claim it. Many investors are also unaware that depreciation deductions can be found in all properties, regardless of their age.

BMT Tax Depreciation’s experienced team of Quantity Surveyors are renowned for producing comprehensive depreciation schedules that outline the highest possible deductions available. Investors who have not yet been claiming or maximising their depreciation deductions can amend the past two years’ tax returns to reclaim missed dollars.

To find out the likely deductions on a current or potential investment property visit the calculator’s page on The Successful Investor website by clicking here.

Alternatively, to request a quote click here or call 1300 728 726 and speak with one of BMT’s expert staff.

Article provided by BMT Tax Depreciation.
Bradley Beer (B. Con. Mgt, AAIQS, MRICS) is the Chief Executive Officer of BMT Tax Depreciation. 

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