What you need to know about maximising tax deductions

What you need to know about maximising tax deductions

We sat down with Peter Foldes from Washington Brown, the property depreciation experts, to talk about how to maximise tax deductions.


Peter Foldes - Washington Brown Everything you need to know about maximising your tax deductions


Have you just built a brand new house with ALC?

In every home with ALC Shield, we include a very valuable tax depreciation schedule.

What is property tax depreciation and how is it helpful in maximising tax deductions?

Just like you would claim the wear and tear on a car purchased for income producing purposes, you can also claim the depreciation of your investment property against your taxable income.

This means that you can claim a yearly tax deduction for the depreciation (essentially, the decline in value due to the wear and tear of use) of structural elements like bricks, windows, concrete etc. And non-structural items such as ovens, dishwashers, carpet and blinds (provided the dwelling is available for income producing purposes from completion).

What is a tax depreciation schedule/report?

A depreciation schedule is a report supplied by a Quantity Surveyor following assessment of an investment property. This report itemises eligible fixtures and fittings that can be depreciated and outlines the deductions that the owning entity is entitled to claim each year of ownership for the maximum 40 year period.

How does claiming tax depreciation maximise benefit to me?

A depreciation schedule from Washington Brown is a fully-comprehensive, ATO-compliant report that helps you PAY LESS IN TAX. The figures contained in the report are used to reduce your taxable income when lodging your tax returns.

The amount the depreciation schedule says you can claim in a particular Financial Year reduces your taxable income by that amount in that year.

We chose Washington Brown depreciation to be included in ALC Shield, why should they trust us??

Washington Brown are the trusted and accredited experts, trusted by the Australian Tax Office (ATO) to calculate exactly how much you can save.

Here are some reasons why we are ALC’s preferred and recommended Depreciation Services provider:

  • Independently voted TAX DEPRECIATION SPECIALIST OF THE YEAR 2019/2020
  • Over 300 5-STAR Google User Review Ratings
  • An average Net Promoter Customer Satisfaction Rating of ‘WORLD CLASS’
  • Complete Peace of Mind – Over 40 years’ experience with our figures never once rejected by the ATO – We produce over 10,000 reports a year
  • Our data is relied upon by Corelogic/RP Data who are the industry trusted benchmark in Australian property data.
  • The only published authority on the topic of Australian Property Tax Depreciation
  • Members of the Tax Practitioners Board
  • Members of the Australian Institute of Quantity Surveyors
  • Trusted by leading industry firms such as Realestate.com.au, Money Magazine, Meriton, Savills, Knight Frank, Finbar International and Your Investment Property

You get what you want to meet your client’s expectations.

Simply order an investment property with us here.

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