Depreciation Schedules - do I need one?

Occasionally when we raise the matter of depreciation schedules, owners are not aware of what depreciation is. Not being accountants, this can mean that you may be missing out on a tax benefit that is available to you. All too often, the assumption is that the property investor  knows and so property managers fail to mention it to them.

 

Depreciation schedules refer to the fact that every item in a property has a defined life in accounting terms. Depreciation refers to the dollar amount by which the item depreciates over time.
There are specialist companies who will prepare a depreciation schedule for you to provide to your accountant so that each year, a set amount of depreciation can be claimed in your tax return.

Who can I contact to prepare a depreciation schedule?

 

BMT Tax Depreciation     http://www.bmtqs.com.au/    Telephone: 1300 728 726

Deppro Depreciation Professionals    http://deppro.com.au   Telephone: 1300 888 489