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MCG insights into property investor behaviour that you need to know
Since we started preparing depreciation reports for property investors back in 2011, I wanted to collect data that I thought would illuminate the property industry as to the types of acquisitions the average property investors was making. Through the course of doing what we do, we also have to ask some fairly unusual questions that…
Read MoreWhy does your split depreciation schedule not add up?
Apologies for the click bait article title, but I was at a loss as to what to call it. Let me start by saying that split depreciation schedules are fantastic. I’ve written about them before: https://www.mcgqs.com.au/blog/split-depreciation-reports-are-saving-investment-property-co-owners-thousands/) and we’ve done thousands of them. They’re a fantastic way for multiple tenants in common to see their exact…
Read MoreTax depreciation estimating – The value of having your finger on the pulse
Back in the day, tax depreciation was not a service that quantity surveyors offered. In fact, it’s an industry that’s not much older than 21 years whereas quantity surveying in general can be traced back to at least 1859 but possibly 1785. Sorry, you’re right, you didn’t ask. Anyway, my point is that most quantity…
Read MoreIt’s all in the timing – When to organise a depreciation schedule
Once people have been rebirthed into the glorious world of depreciation boosted property investing, their next question is; ‘When should I organise the schedule?’ If I can cement one thing into your brain, let that be this answer: Now. What I’m getting at here is that people can get seriously caught out by putting it…
Read MoreWhy would a Quantity Surveyor be the life of the party?
Listen. I’m a Quantity Surveyor (QS) who specialises in tax deprecation so, frankly, I’ve heard them all: Q. How can you tell if a QS is extroverted? A. In conversation, he looks at your shoes instead of his own. Q. How does a QS make a bold fashion statement? A. He wears dark grey socks…
Read MoreMy favourite QS BS – The top three furphies spouted by the depreciation industry
As a Quantity Surveyor or QS if you will, I have the pleasure of a little inside information when it comes to reading some of the articles or catch phrases written by other quantity surveyors. No sour grapes here, for the most part we all get along. I have some great relationships with a number…
Read MoreWhat you need to know – Tax depreciation effective lives 2018/2019 – TR 2018/4
From the 1st of July 2018, new effective life rulings have been in affect that govern how plant and equipment assets are depreciated. The new ruling is TR 2018/4 and replaces TR 2017/2 (I don’t know how they come up with such whacky names). If you happen to be in any of the following industries,…
Read MoreDepreciable asset or repairs and maintenance? – How to make the call
Owning an investment property will invariably result in having to spend some money on it. The good news is that the tax man (perhaps we need a gender-neutral term but technically the tax commissioner is a man) will let you claim that expenditure as a deduction. However, not all deductions are equal. Spending money on…
Read MoreThe recent regulatory changes and the state of the Property Market
The January CoreLogic figures have shown that capital city dwelling values have posted their first quarterly fall since April 2016. The peak of the market was called as far back as 2016, but now we’re seeing the evidence some two years later. On a positive note, the combined regionals edged slightly higher over the Dec-17…
Read MoreHow common property assets can supercharge your upfront deductions
Most investors would be aware that if you own a unit within a complex, you’ll have an entitlement to claim over the common property assets based on your share of ownership. This percentage share is commonly referred to as a unit entitlement and can be found on your strata plan or plan of subdivision. You’ll…
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