Chambers Fleming Padstow
2 Faraday Road Padstow
02 9771 4555
02 9773 9581Contact us
Leading into the new financial year, we thought it would be a great idea to provide Padstow, Padstow Heights, Revesby, Revesby Heights, Panania, Milperra, East Hills and Picnic Point real estate investors a series of posts that will outline some of the tips and benefits that can be utilised at tax time.
The depreciation of your investment property can be counted as a loss and therefore offset the income earned by way of rent from the investment property. The depreciation deduction acts by reducing your taxable income and, therefore, generating a greater return on your property investment.
Taxation depreciation reports are available from companies like Write It Off and the complete report will provide you with any eligible deductions that can be counted towards depreciation which include consideration of the construction of your property, including any structural additions, and those deductions available to you via plant and equipment at the property.
So if you’re an investor in Padstow, Padstow Heights, Revesby, Revesby Heights, Panania, Milperra, East Hills or Picnic Point, and you don’t already have a tax depreciation report for your investment property, then you could benefit greatly from having a comprehensive deprecation report done. After all, who doesn’t love paying less tax at tax time?!