Tax Depreciation Schedules
Lovely Banks, VIC
A tax depreciation schedule from our award winning team ensures you’re maximising the after tax return on your investment property.
About Lovely Banks
Lovely Banks is located within the Geelong region as part of the Greater Geelong (C) Local Government Area.
The majority of dwellings in this area are houses. The key benefit of owning a house is the land it’s built on, because land continues to appreciate as the population increases. When you own a unit, you only own a partial amount of the land it’s built on. Houses have a greater potential because there are opportunities to renovate, rebuild or add an extension which will increase what you can potentially claim in deductions. Yes, you can renovate a unit, but you are unable to add an extension or rebuild, which is where some excellent depreciation deductions can be claimed.
Estimate the total tax depreciation deductions for your property in Lovely Banks using the calculator below!
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Why Choose MCG Quantity Surveyors
The maximum effective life of a residential building as prescribed by the ATO is 40 years, therefore our comprehensive reports last for the full 40 years.
Our reports are completed within 7 working days of the inspection and under normal circumstances, most inspections are organised within 4-5 days.
Yes! Unless we can find double our fee worth of depreciation deductions, we’ll cancel the report without charge! Our first step starts with an analysis of your potential claims.
The short answer is no. It is correct to say that the newer a property is, the more depreciation deductions you are likely to be able to claim. However, a property will generally always attract some amount of depreciation regardless of age, unless it is a very old property in completely original condition.
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