Depreciation Schedule Perth

What is a depreciation schedule?

A depreciation schedule is a comprehensive report that details the depreciation deductions that can be claimed by every investment property owner on the properties building structure (if applicable) and most of the fixtures and fittings within it. A specialist quantity surveyor firm is one of the best ways that you can maximise the cash return from your investment property each financial year, through a depreciation schedule. Perth’s SD Depreciation is an expert in this field and can provide a professional service that is fully compliant.

Is my property too old to claim depreciation?

Both older and new properties are eligible for depreciation deductions but the building on the property must have begun after the 18th of July 1985 to qualify for tax depreciation deductions on the building structure. It should be noted that many properties built prior to this date have undergone some renovations or improvements that will allow them to qualify for deductions. All plant and equipment will qualify regardless of their age and these factors are definitely worth bearing in mind when deciding whether to invest in a depreciation schedule. Perth property owners and those who have invested in plant and equipment should always check whether they are eligible for a depreciation deduction to save losing out on a valuable rebate.

How can quantity surveyors estimate costs for your property investments?

  • Quantity Surveyors are one of the few professionals recognised by the ATO to have the appropriate construction costing skills to estimate the cost of a building and its fixtures and fittings for the purposes of a depreciation schedule. Perth based SD Depreciation has a team of quantity surveyors with extensive experience in estimating construction costs for all types of buildings, both residential and commercial.

What items can I claim depreciation on?

  • You are able to claim on all ATO specified plant and equipment items and capital allowances on the building (where the building qualifies). This allowances covers the building itself, including the paving that surrounds it, while plant and equipment items are those within the actual building. Below is a list of most of the items that can be included in depreciation deductions.

  • Air Conditioning and hot water systems
  • Blinds, Carpets, curtains, floating timber floors and vinyl
  • Cooktops, ovens, range hoods, bathroom accessories and light shades
  • Smoke alarms and security systems
  • Freestanding Furniture, garbage bins and outdoor furniture
  • Garage door motors
  • Solar garden lights and solar power generators

How many years does a depreciation schedule last for?

The ATO determines the maximum effective life of a residential building as 40 years, which is the same length our report lasts for. However, some tax depreciation schedules will not last this long, but the SD Depreciation report will still show the depreciation deductions from the settlement date right  through to 40 years from settlement.

Let us do the hard work

SD Depreciation will take care of all your depreciation schedule needs