Posts by Mike Mortlock
Changes to Depreciation Deductions for Plant & Equipment Items
The budget is only two hours old and I’m back in the office trying to come to terms with some pretty fundamental changes. To cut a long story short, from now on, property investors will only be able to claim depreciation deductions on plant and equipment items if they either; a) purchased the asset directly…
Read MoreMaximise depreciation tax deductions when renovating an investment property
Are you planning to renovate your investment property? A brand new kitchen, new carpets or a quick lick of paint – there are plenty of ways a well-considered renovation can boost the capital value of your property and attract higher rental income. A renovation can also provide a tax-time bonus if you plan ahead and…
Read More3 strategic factors that influence the TDS for your investment property
Every property investor should be claiming depreciation deductions via a tax depreciation schedule. An investment property tax depreciation schedule is a summary of the tax deductions you can claim for the depreciation of your investment property’s structural elements (such as bricks and concrete) and “plant and equipment” components (such as blinds, air conditioning and carpets).…
Read MoreFive items your tax depreciation schedule shouldn’t overlook
A tax depreciation schedule lists an investment property’s depreciable building, plant and equipment items and will allow you to claim these depreciation expenses as tax deductions. While obvious features such as walls, carpets and bathroom fittings are always included in tax depreciation schedules, don’t overlook these five not-so-obvious depreciable items: Common property items within…
Read MoreHow to use investment property tax depreciation to maximise cash flow
Investment property tax depreciation allows you to claim a tax deduction for the wear and tear of the structural elements (the actual building) and plant and equipment (fixtures and fittings) of an investment property. By claiming depreciation as a tax deduction you can lower your taxable income. This in turn reduces the amount of income…
Read MoreFour times you can benefit from a tax depreciation schedule
A tax depreciation schedule itemises the tax deductions claimable for depreciation of an investment property. It lists the amounts you can claim each year (for 40 years) for the wear and tear of capital works – the actual building – and the wear and tear of plant and equipment – elements within the building such…
Read MoreCommercial property owners AND tenants can benefit from depreciation
As a commercial property owner or a commercial tenant, you can benefit by claiming tax deductions for commercial property depreciation. Whether you’re collecting or paying rent, a tax depreciation schedule should form part of your business planning. A commercial property depreciation schedule will list tax deductions you can claim for depreciation of capital works and…
Read MoreTimely reminder to home owners – Watersun Homes Collapses
The headlines are reading, ‘Home builder goes under, Thousands lost, Hundreds of home owners left out of pocket’. The reality is that we have all read these headlines before and unfortunately, these brutal words will continue to feature from time to time within the construction landscape. Building your home is a personal thing, whether it…
Read MoreThe Melbourne Residences – Rippling Facades and Ripping Deductions
If there’s one thing we love, it’s repeat clients. Obviously, it’s great to do another schedule and that they trust us as the depreciation experts, but what excites us more is that our investor clients and building their portfolio and hopefully dramatically changing their retirement lifestyle in the process. This repeat client bought a unit…
Read MoreFour reasons you should always use a construction price estimator
So you’ve decided to build. You’ve had plans drawn up and you have a ballpark budget in mind, but how can you be sure that it’s realistic? With a professionally-generated cost estimate, that’s how. Here are four reasons you should employ a construction price estimator before you get started: Belief in your budget An…
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