Tax Depreciation Schedules

An essential part of your investment is called a tax depreciation schedule, that offsets your taxable income with a negative geared property. The building allowances are split into 2 main areas, the building shell that attracts a 2.5 percent of the value of the fixed items such as kitchen,carport and pool areas, and then there is the internal chattels.

Different items are depreciated with their effective life or how long the item will last, such as carpets, dishwasher, hot water system, curtains and furniture. Improvements made to the building can be allowed for for capital improvement, but you can not claim landscaping in the schedule nor repairs and maintenance.

To have a tax depreciation schedule prepared for your property contact Independent Inspections on 1300 857 149.