Posts by Mike Mortlock
Prestige Residential Units & Depreciation Deductions – How do they stack up?
We’ve prepared a number of depreciation schedules on prestige residential units recently and thought to offer some insight into some of the major depreciable components and overall deductions. One particular prestige development was “The Residence” on Hyde Park. The development comprises 87 luxury apartments over 23 levels with unparalleled views of Sydney’s city skyline and…
Read MoreThe pitfalls of specialisation; Depreciation deductions maximised with estimating department
We live in a world of specialists, and for the most part, it’s a good thing. We use buyers’ agents to find us the best real estate, mortgage brokers to find us the best loan and comparison sites just to help us compare different companies. Why? Well the majority of the time it’s because we…
Read MoreDepreciation on residential buildings – Why 1985 doesn’t matter anymore
It’s amazing how certain aspects of tax depreciation stick in the minds of property investors and real estate professionals. One such example is the residential cut-off date for depreciation on the building structure. Most investors know that 1985 is an important year for depreciation, and many assume that a property built before 1985 will not…
Read MoreNeed us in Canberra? We’re there!
Our clients have spoken, they need us in Canberra. We’re pleased to announce that we’ve listened! To celebrate the launch into the nations capital, we have a special offer for all ACT property investors. Give us a call on 1300 795 170 or visit www.mcgqs.com.au Find out why investors are choosing Australia’s fastest growing Quantity…
Read MoreIs your Quantity Surveyor endorsed by the Australian Tax Office (ATO)?
We’re no strangers to the politics of fear, thanks in no small part I suppose to the Bush administration. It’s true that fear is a very powerful emotion, and one that can be used to positive and negative ends. Take for example, products and services. We all have a fear of buying an inferior product…
Read More4 Things you need to know about depreciation this tax season
It’s that time of year again where television advertisements start battering us with acronyms like ‘EOFYS’ and shoe boxes of receipts are clutched in trembling hands gripped by the terror of a looming tax return. Whilst fear and dread might be the default emotions for many at this time of year, for property investors it’s…
Read MoreHow much does a bathroom or kitchen renovation cost?
This week the Housing Industry Association (HIA) released the HIA-GWA Kitchens and Bathrooms Report for 2013/14 and it presents some interesting implications for depreciation deductions. Over the years the report has provided some great insights into the frequency of kitchen and bathroom renovations, the average cost of the works and the total value of these…
Read MoreWhich terms in real estate ads result in higher prices?
In a recent study in Canada by a Professor Paul Anglin, an analysis of the language used in real-estate ads shows that certain words are strongly correlated with the final sale price of a house. Surprisingly words like ‘charming’, ‘spacious’ and ‘fantastic’ do not equate to a higher sale price. The study dissected the wording…
Read MoreATO Tax Depreciation Effective Lives – Depreciation Rates for 2013/2014 under Tax Ruling 2013/2014
*Note – These effective lives are now covered by TR 2019/5. The best up to date list is here https://www.mcgqs.com.au/ato-effective-lives-2019-2020-depreciation-rates.php We’re frequently fielding questions about the specific effective lives for residential property, so we’ve decided to post the current effective lives here. These effective lives are current at the time of posting, and come from…
Read MoreMCG Director Mike Mortlock raising money for the Black Dog Institue whilst representing Australia at the Triathlon World Championships
MCG Quantity Surveyors is pleased to announce that Director Mike Mortlock has qualified to represent Australia in the 2013 Age Group Olympic Distance World Triathlon Championships in London this September. When he’s not maximising tax depreciation deductions for clients, Mike spends his time training and participating in triathlon events. Mike is using his place in this years…
Read More