Are you claiming depreciation on your investment property?
As a property investor, chances are you have already engaged the services of an accountant. But have you got a good property surveyor? According to BMT Tax Depreciation chief executive Bradley Beer, about 70-80% of landlords aren't making full use of depreciation in their tax calculations. This means as a property investor, you could be leaving thousands of dollars in the ATO's pockets that is rightfully yours. Just as your car or household items depreciate over time, so does your investment property. It makes sense to only pay tax on the true value of your investment. What can I claim depreciation [...]