Why does your split depreciation schedule not add up?

Split Report

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 More

What is a tax depreciation schedule and how can it change your tax return?

Tax Depreciation Schedule

Albert Einstein said if you can’t explain something simply, then you don’t understand it well enough. So, it’s time to test my understanding of tax depreciation schedules! A tax depreciation schedule is simply a report detailing the depreciation entitlements available to you within your investment property. The depreciation entitlements can be broken into two simple…

Read More

Investors are losing to depreciation changes to plant and equipment

Budget Changes

We recently analysed 1,000 residential depreciation schedules and found that 82% of them would still benefit from having a depreciation schedule completed, given the impact of depreciation changes to plant and equipment. In some ways, it’s good news for investors (and quantity surveyors especially) that the impact wasn’t worse. Certainly, abolishing negative gearing would be…

Read More

Critical misinformation around property depreciation changes

Depreciation Changes

The senate has passed the depreciation changes (as of writing it is awaiting royal assent), but unfortunately a number of large quantity surveying firms have been reporting incorrect or incomplete analysis of the changes. I’ve been modelling the impacts of the recent depreciation changes by analysing the reports in our system as well as looking…

Read More

What you need to know – Investment Property Budget Changes

Budget

  Investment property tax deductions hit the headlines when the 2017-18 Federal Budget was handed down on 9 May 2017. As the second biggest tax deduction after interest, depreciation deductions against investment properties save investors thousands of dollars and can make or break the profitability of a property investment What deductions can you claim against…

Read More