There are many types of commercial depreciation deductions available. The main categories are featured below.
Whilst warehouses may typically have a lower construction cost per square metre than most other commercial properties, we do see them provide significant deductions based on the size of the building and associated plant assets.
Education Providers, Healthcare (Hospitals, Doctors & GP’s, Dentists, Veterinarians) and Social Assistance (Retirement homes, Seniors retreats and Disability support).
Small Retail, Medium-Large Retail and Fuel Specific Retail are the key subcategories for this type of commercial investment. Retail construction costs vary greatly as does the level of fitout.
Some of the more common items for in these properties is detailed in the link above. Typically the construction cost per sqm is very high for these types of properties. Combined with plant and equipment assets, we typically find excellent claims for all properties under this category.
Livestock Farms, Produce Farms and Wineries are diverse investments with specialist plant and equipment assets. There are extra deductions for primary producers and the deductions associated with wineries are also significant.
Whether strata titled or stand-alone, commercial offices typically attract fantastic deductions based on the high concentration of plant and equipment assets as a component of the total construction cost.
Freehold (Going Concern), Leasehold and Freehold (Passive Investment) are the three main ownership types. Deductions can be extremely high when furniture and cooking appliances are included per room.
A Quantity Surveyor should be able to answer all of your detailed questions and will ensure that no items are missed, the maximum claim is made and that the report complies with the ever changing rules prescribed by the Australian Taxation Office (ATO).
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