Posts Tagged ‘new vs old investment property’
Unit Renovation Case Study
Our latest case study is a cracker. It showcases what can be done within a small space and smashes a commonly held myth that a property built before 1987 will never have any depreciation deductions. The unit was in Mona Vale, in Sydney’s beautiful northern beaches. It is a two bedroom, one-bathroom unit in a…
Read MoreScrapping Schedules Demystified
Scrapping depreciable assets is a fantastic way to claim deductions as an asset reaches the end of its practical use. Essentially it’s a simple process but we’ve had a number of calls from investors confused by terms like ‘scrapping schedules’. The difference between a depreciation schedule and a scrapping schedule is practically nothing, other than…
Read MoreInside a 2.5 million dollar northern beaches holiday home
There are certain pockets of Australia we find ourselves coming back to alot, and fortunately one of those places is Bynya Road, Palm Beach. We were engaged to prepare a capital allowance & tax depreciation schedule on this stunning holiday home. Estate agent Amethyst McKee described the property as a “charming timber and sandstone home…
Read MoreAn inside look into a landmark lakeside lodge
November was a busy month here at MCG, and one particular report kept us pretty busy. For anyone that’s ever been to Terrigal on the NSW central coast, you couldn’t help but have noticed a little place called ‘The Clan.’ Here you can see it perfectly positioned along the entrance to Terrigal, just a sand spit away…
Read MoreDwelling values continue to rise with momentum slowing
The CoreLogic RP Data index showed a +0.2% rise across the combined capitals, with growth for the March quarter up 1.6%. Sydney and Melbourne are pushing forward, posting 2.0% and 2.2% respectively for the March quarter. Hobart was down -1.1% for the month but still managed to end on 6.5% for the March quarter. It’s…
Read MoreThe questions we’re asked on a daily basis
Navigating the world of property depreciation can be a daunting task for property investors. Our aim is to simplify the process, eliminate the B.S. and arm investors with the knowledge they need to get the most out of their property. With that in mind, we thought it would be a good time to answer some…
Read More“It’s not worthwhile having a depreciation schedule” – How costly unqualified advice can be
Recently we were following up on a quote in Newcastle, NSW for a house that had been split into three small units. The owner came back to us with the following: “Thank you for your email. After sending this email, I spoke to the managing real estate who advised me that the house was too…
Read MoreAverage Depreciation for Port Macquarie Home
Last month we looked at some depreciation deductions for a typical unit in Sydney. We chose a rather average unit and this month we’ll be doing the same with a house in Bonny Hills, which is near Port Macquarie. It’s easy to pick an eight million dollar unit and talk about how fantastic the deductions…
Read MoreWhat will a new kitchen do for you?
What will a new kitchen do for you?Updating a kitchen can be a fantastic way to increase both your rental yield and the capital value of your investment property. We’re often asked what a new kitchen will do for depreciation deductions. Ignoring any scrapping component discussed in the adjacent article, let’s take a look at…
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…
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