Capital Claims Tax Depreciation in Newcastle, New South Wales | Tax preparation service

Capital Claims Tax Depreciation

Locality: Newcastle, New South Wales

Phone: +61 1300 922 220

Address: Australia-wide service Newcastle, NSW, Australia

Website: http://www.capitalclaims.com.au/

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25.01.2022 COVID-19 and your SMSF - Acumon Accountants and Business Advisors: - Early release of superannuation - Tenant Rent Relief - Relief for related party loans... - A fall in asset values - Minimum pension payments Click here for more info: https://hubs.ly/H0vXcK-0

25.01.2022 L A N D L O R D S Fact 2 of 6 - Brand new properties typically generate the most tax deductions as their construction costs are the highest and the building and assets are still at the beginning of their effective lives. Owners of brand new investment properties have the benefits of claiming depreciation on both the building and all of the included assets in their investment proeprty. Purchasers of second hand properties can claim depreciation on the building but not on the... second hand assets. Even where the construction cost of a new build is known, a quantity surveyor will be required to separate and itemise the costs and depreciation deductions of the building (Division 43) from the included assets (Division 40) and ensure the deductions are maximised for in the most appropriate years for the owner. Download our FREE eBook - 6 Facts Every Property Investor Should Know About Claiming Tax Depreciation here: https://hubs.ly/H0w7Jx30 Contact us to discuss your residential property. We can provide you with a FREE estimate of what approximate tax depreciation deductions are available to you. Call us on 1300 922 220 or email Peter at [email protected].

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24.01.2022 Why is tax depreciation important for property investors? If I said to you, we may be able to reduce your tax by thousands would you say no thank you!? Or would you say YES PLEASE There are many reasons why depreciation is important to property investors:... Its helps improve cash flow to the property investor; It can reduce the tax payable; A negative geared house loss can be reduced; A brand-new property can be affordable; Yearly deductions are typically thousands of dollars for the residential property investor; Commercial property owners and leasees both can claim and benefit; Yearly deductions for commercial property can be hundreds-of-thousands. With interest rates being so low, the tax depreciation deduction could potentially be the biggest deduction claimable for some property investors. Would you want to leave $1,000 in tax depreciation deductions unclaimable? What about $10,000? What about $100,000? "The benefits of a tax depreciation schedule are far reaching. Depreciation deductions can significantly reduce your taxable income and help your property return a positive cash flow sooner." - Michael Yardney, from Michael Yardneys Property Update https://hubs.ly/H0tYyKR0 Dont be a property investor that didnt claim one of their biggest tax deductions. Order a tax depreciation schedule from a quality quantity surveyor. We would be happy to help you, call us on 1300 922 220 or email Alex at [email protected]. https://hubs.ly/H0tYzKY0

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24.01.2022 How do I back-claim for previous years depreciation? Back-claiming for previous years requires that you submit a request for amendment to the ATO. The ATO does not charge a fee if you request an amendment and you don't have to send in another tax return unless they ask you to. You can request an amendment in a number of ways. We always recommend you consult with your accountant - they are the experts and can do this process with the most experience and least amount of effor...t. If you manage your own tax affairs however you can find specific details here on the relevant ATO website page. Check out here what our clients back-claimed for a residential property and for a commercial property: https://hubs.ly/H0xNhnh0 Do you know someone who could be missing out on claiming their thousands? Tag them below! They'll thank you for it....

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22.01.2022 Number 1 FAQ amongst our property investment community.... DO I NEED AN INSPECTION FOR MY DEPRECIATION SCHEDULE? Today, in this modern information era, we have discovered that for many properties a virtual inspection is perfectly adequate for capturing all the necessary data, and ensuring maximum tax deductions are still claimed. Capital Claims Tax Depreciation has been completing virtual property inspections for properties that qualify for over 12 months now. We have care...fully tracked the results of properties inspected in person versus those inspected virtually, and our results show that for many properties there is no additional benefit to having an inspector personally attend your property. In fact, there are some added benefits to virtual inspections as outlined below. Read further as we explain how our team can still achieve excellent results for investors, without having to personally inspect your property: https://hubs.ly/H0w7Vkb0 To find out if your property qualifies for a virtual inspection, please contact our friendly team on 1300 922 220 or request a quote with an estimate of deductions here: https://hubs.ly/H0w7LtJ0

21.01.2022 Federal Treasurer Announces New Instant Asset Write-Off Rules. Immediate tax deductions can now be claimed for new (and in some cases second hand) asset purchases for most Australian businesses with no dollar limit on claimable assets for businesses with a turnover of up to $5 billion. This is a significant jump from the previous incentives on offer in March 2020 which offered immediate deductions for assets up to $150,000 for businesses with a turnover of up to $500 million.... The Treasurer said that this will improve cash flow for qualifying business and bring forward new investment to support the economic recovery. Check out our summary to see where you fall in the Instant Asset Write Off Matrix, click this link: https://hubs.ly/H0zvmCY0 To ensure that all capital purchases (including building and asset acquisitions) are accurately and effectively reported for instant write-off or depreciation, we recommend the engagement of a professional quantity surveyor who can work effectively with your tax accountant. Capital Claims Tax Depreciation are quantity surveyors and tax depreciation experts. To discuss asset reporting and depreciation for your business contact Alex [email protected] or on 1300 922 220.

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20.01.2022 How does claiming depreciation affect Capital Gains Tax (CGT)? We regularly still hear from some investors that they have chosen not to claim depreciation because "they will have to pay it back anyway" if/when they sell their property at some time in the future. It is true that claiming for depreciation whilst owning an investment property does affect the future CGT calculations. In many circumstances investors are eligible for certain CGT discounts and exemptions, read here ...for further information: https://hubs.ly/H0wThWZ0 Cash in the hand today is always worth more than the same amount of money saved in the future. Investors are typically better off accessing the depreciation benefits and boosting cash flow today, saving that money on a profitable sales transaction at some time in the future. Get specialist advice For anyone still unsure about the impact of claiming capital allowance and depreciation on CGT we recommend speaking with our team on 1300 922 220, or with an accountant who specialises in property and wealth creation.

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20.01.2022 What depreciation are hotel owners entitled to? As a hotel owner you are entitled to claim commercial property depreciation under two different categories: Division 40 - Assets / Plant and Equipment... Division 43 - Building / Construction/ Capital Works Division 40 Assets/Plant and Equipment are (individual or grouped) assets within your hotel that can be removed easily or are electronic in nature or soft furnishings. Examples of Division 40 Assets include: Ice making machines, lighting, refrigeration cool room panels, beer dispensing system, closed circuit television, gaming machines, glass washer machines, blinds, fire hoses and nozzles, crockery, cutlery and glassware. Hotel owners (commercial property owners) are entitled to claim commercial property depreciation for brand-new and second-hand assets. Division 43 Building /Construction/Capital Works is the remaining structural component of your hotel. Some examples of Division 43 components include: bricks, framing, weatherboards, hard landscaping, pavers, concrete, walls, foundation, piers, storm water, roof tiles/colorbond fence. When you combine Division 40 and Division 43 together the hotel depreciation results for owners can be in the hundred-of-thousands. This will reduce your taxable income and help you with cash-flow allowing you to inject monies elsewhere into your hotel. For hotel owners who have completed a fit-out and removed and disposed of the old assets, they are entitled to claim for another commercial property depreciation component which is called Scrapping. Read further here: https://hubs.ly/H0BbZLY0

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19.01.2022 Top 5 Tax Deductions Claimed With ATO By Property Investors! Can you guess what they are? Find out here:... https://hubs.ly/H0JSmS30 See more

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17.01.2022 L A N D L O R D S - Have you completed any repairs or capital works at your investment property? Both are legitimate tax deductions, but they are treated differently when recording your deductions for tax purposes each year. Repairs and maintenance for your residential property means repairing or servicing an asset with the purpose of keeping it in the same condition as when it was purchased. Examples include repairs made to an oven, a wall, leaks fixed in a ceiling by repa...iring part of the roof, or replacement of fence palings or single panels of a broken fence. Repairs and maintenance costs can be claimed in whole in the year the cost is incurred; that is, the year you paid for the repair. Capital improvements and additions to your residential property are improvements made to an asset that are beyond the condition of that asset at purchase. Examples of capital improvements include things like replacing a roof, repiering the whole house, replacing walls, adding rooms, replacing fences, repainting, or replacing assets such as ovens, cooktops, rangehoods, blinds, carpets. Depreciating brand-new assets for a residential property that cost less than $300 (eg. exhaust fan, bathroom accessories, smoke alarm) can be claimed in full, in the financial year in which the item was purchased and installed. Capital improvements and additions that cost in excess of $300 must be depreciated over time, which means only a portion of the expense can be depreciated in the year of purchase, and the balance is claimable proportionally each year for the effective life of the brand-new asset. For example, a new tile roof, installed on the 1st July, for a cost of $20,000, has an effective life of 40 years, and will depreciate at 2.5% per annum. If you own a residential or commercial investment property, the best way to ensure your depreciation deductions have been maximised is to use a depreciation schedule prepared by Capital Claims Tax Depreciation. For a free estimate of depreciation deductions you may be entitled to click here https://hubs.ly/H0xNh2h0 You can also contact our team with any questions on 1300 922 220.

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16.01.2022 What is hotel restaurant depreciation? Hotel restaurant depreciation is part of the overall hotel depreciation which is a tax deduction that you are entitled to claim for the wear and tear of your plant and equipment assets known as Division 40 and for the capital works structural - known as Division 43. Examples of Division 40 plant and equipment assets found in restaurants are: glassware, cutlery, chairs, tables, range hood, gas stove, fridges, coolers, ovens, chef knives..., linens. Examples of Division 43 found in a restaurant are: the walls, ceiling, structural partitions, tiles and hard flooring. By claiming this depreciation, which can total tens of thousands and in some cases hundreds of thousands, this can help greatly reduce the taxable income for hotel owners and hotel lessees. Our Hotel client claimed $106,924 over the first 5 financial years. For further information about hotel restaurant depreciation click here, (2 min read): https://hubs.ly/H0Bc8jS0

15.01.2022 L A N D L O R D S FAQ: I was told that I can’t claim Division 40 on my second-hand property? This is something we find a lot when talking to investors as Division 40 claims were affected by legislation changes way back in May 2017. They are still being misunderstood amongst property investors and professionals with some believing that the changes meaning it is not worth organising a Capital Claims Tax Depreciation Schedule at all.... Although the changes to the legislation were significant, the key change was the timing and the way in which potential Division 40 claims were made. The change means that you can no longer claim second-hand assets as part of your annual Capital Allowance and Tax Depreciation deductions. However, there is still opportunity to claim against these values at the end of your investment property journey rather than the start. This is called a Deferred or Future Division 40 - Capital Gains Tax Offset. These values can total thousands and accumulates each financial year going forward. If you were to sell your property in 5 years or 10 years or 40 years-time the accumulated value can be deducted from any Capital Gains Tax liability that you owe. Visit our blog here https://hubs.ly/H0xCvzF0 to see how our client Huan could reduce her Capital Gains Tax Liability by $24,215. With just a few details about your property, Capital Claims Tax Depreciation are able to complete a free estimate of what tax depreciation deductions are available to you. Call us on 1300 922 220 or order your free online estimate here: https://hubs.ly/H0xC1NG0.

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14.01.2022 What is build to rent and how does it work? Housing prices are going up, interest rates are at an all-time low and a push towards build-to-rent (BTR) has emerged. With housing affordability issues, some Australians being priced out of the market and others not wanting to move to more affordable locations, the build-to-rent option is becoming a very welcoming option for many investors and tenants alike. Build-to-rent (BTR) is basically housing on a very large scale. Units that... are rentals which are held under a single ownership that is managed professionally ie the developer/investor owns all of the units rather than the developer building-to-sell the units individually. Read further here: https://hubs.ly/H0JT2_f0

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13.01.2022 L A N D L O R D S With over 20 possible tax deductions available to you, are you CLAIMING ALL OF THEM? Download our popular Rental Property Tax Deduction Checklist here: https://hubs.ly/H0vM2sH0 Its free and may have deductions there that you didnt know you could be claiming.... The NUMBER ONE deduction missed by landlords, is the tax depreciation deduction. And with interest rates being so low, it could be the biggest deduction claimable for some investors. Why is tax depreciation important for landlords? There are many reasons why: It helps improve cash flow to the property investor It can reduce the tax payable A negatively geared house loss can be reduced A brand-new property can become affordable Annual deductions are typically thousands of dollars for the residential property investor; Commercial property owners and leasees are often both able to claim and benefit; Annual deductions for commercial properties can often run into the hundreds-of-thousands of dollars. We would be happy to discuss your investment property with you. Call us on 1300 922 220. We can let you know approximately what you are entitled to claim. Dont forget that older properties can still produce great tax depreciation deductions.

13.01.2022 5 Affordable Ways to Add Value to Your Rental Property! https://hubs.ly/H0x903F0 By adding value to your rental property by painting, installing new carpet or installing a brand-new dishwasher, you can claim the tax depreciation deduction.

13.01.2022 Home Becomes Rental Property Its not uncommon for property owners to eventually move from their own home, rent it out, and buy or rent another property to live in. When this happens, the former property becomes eligible for tax depreciation from the day it goes on the rental market. That means its a smart move to have a tax depreciation schedule completed on the property to ensure you are maximising your entitlements.... So what tax depreciation deductions are you entitled to claim? The government made legislation changes in May 2017 to the way you can claim tax depreciation on second-hand properties. If you lived in and turned your property into a rental after the 1st of July 2017: You can claim for brand-new assets you have installed in the property (eg. air-con, carpet, blinds and stove) after your property became a rental. Your second-hand plant and equipment assets will have a value assigned to them so when you sell your property it will reduce your Capital Gains Tax. You are also able to claim for the structural part of your property Division 43 (eg. roof, framing, plasterboard, floorboards). There are great tax depreciation deductions to be claimed. Its important to note that once a Principal Place Of Residence becomes an investment, it will not necessarily be eligible for the same degree of Capital Gains Tax (CGT) exemptions as it was as your home; however, the benefit of claiming depreciation typically outweighs the impact on CGT. Call us on 1300 922 220 or email Alex at [email protected] to discuss your investment property.

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12.01.2022 Claiming depreciation deductions on holiday parks! With the relaxation of some border restrictions and Australia starting to open back up - many will be flocking to getaway. With no international flights, at the moment, the good old holiday park is the place to be. As you are aware modern holiday park is no longer a measured out square of turf where your tent or caravan can park. They are now offering a complete getaway within their 5 star facilities.... Deluxe cabins as holiday rentals that can often sleep up to eight people. Sites that have their own ensuites. Facilities that include Indoor-and-outdoor pools, heated with spas, kitchens and communal BBQs’ for visitors to use. The kid’s facilities are at another level all together with numerous play-grounds, equipment, jumping pillows, sand pits, movie theatres, games room, putt-putt golf, basketball courts. Even a tennis court for those travellers that like to have a social or competitive game of tennis. All these built features come at substantial expense, and at times it is not known just how much that is. Which can be problematic because you can typically claim these works as a tax deduction. If you are an owner or lessee of one of these holiday parks you can claim substantial commercial property depreciation that can be hundreds-of-thousands and even millions of dollars over the course of ownership. To discuss your holiday park and what you are entitled to claim as an owner or as a lessee give Alex our Senior Tax Depreciation Specialist a call on 1300 922 220 or you can email him at [email protected]. To see what our clients achieved and learn more about holiday park depreciation click here: https://hubs.ly/H0BbZ4v0

12.01.2022 Medical & Dental Practitioners Missing Out on Claiming Depreciation We looked across all of the reports we had completed for medical and dental practitioners over a 6 month period. Some of these reports are for building and fit-out, and some for fit-out only, depending on who owned the building. Some are for large medical centres, and some for small operations with only a few rooms. Nonetheless, they provide for some interesting averages that we can share with you here: Avg.... Total Deductions Over 5 Years - $289,369 Avg. Total Deductions Over 20 Years - $644,934 Deductions available for each property included above did of course, depend on the specific circumstances and building. It can be seen however, that over the first 5 years of ownership, the claims that were available to our clients were huge. Across the many reports we have prepared, the average deductions available over just the first 5 years were $289,369 for each property. Looking forward a little further, at the first 20 years of claims, the total average deductions for the reports we have prepared in the Medical and Dental Industries was $644,934. Please contact our Senior Tax Depreciation Specialist Alex Konjarski on 1300 922 220 or via email at [email protected].

12.01.2022 How is depreciation applied following disasters? With the recent flooding along the East Coast of NSW our property investor clients have been calling to find out how tax depreciation is applied after a disaster. We answer their questions here:... https://hubs.ly/H0JSn4L0 Our thoughts are with everyone who have been affected.

11.01.2022 The benefits of solar assets for residential properties With more and more Australians taking their properties off grid, are you thinking about making your investment property self-sufficient too? There are many benefits in having your residential investment property or commercial investment property powered by solar panels:... You may be able to claim the depreciation deduction to help reduce your taxable income; Tenants may be happier to pay more rent as they will have a lower electricity bill; Your property could be considered more affordable for tenants with their electricity savings; Your rental yield may increase; You are helping reduce the greenhouse emissions. Read further here about rebates and what you can claim in tax depreciation deductions: https://hubs.ly/H0JT4ry0

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10.01.2022 The Massive Tax Deduction Missed By Property Investors. Most property investors know the standard expenses they can claim as tax deductions each year. The most common tax deductions include: Interest on your investment loan;... Property management fees; Repairs and property maintenance; Insurances. An often overlooked deduction is depreciation. Often referred to as capital allowance or tax depreciation, this is a deduction for the ageing and wearing out of your building and assets over time. Depreciation is typically one of the largest tax deductions claimed by property investors. If you have owned your investment property for a few years and have not claimed any depreciation in previous years, you can potentially back-claim for those years and get a bumper return this year! https://hubs.ly/H0xHsRb0

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09.01.2022 A Capital Gains Tax guide for Australian Expatriates What is capital gains tax on a property? It was noted that with the sale of a capital asset, such as real estate or shares, an individual or entity will make a capital gain or a capital loss. This is the difference between what it cost you to acquire the asset and what you receive when you dispose of it.... A tax was introduced by the Australian Tax Office on these capital gains back in September 1985. Known as Capital Gains Tax, this must be paid unless the gain is deemed as exempt by the ATO. What is an Australian Expatriate? An Australian expatriate (expat) is an Australian citizen who is either living or working overseas. I’m an Australian resident does capital gains tax apply to my assets overseas? Yes. For assets that you have overseas capital gains tax will apply. However, Norfolk Island residents CGT applies to assets acquired from 23rd of October 2015. How do I record my capital gain or capital loss? You will have to record your capital gains and losses in your income tax return for the year that you dispose of the asset. Capital Gains form part of your income tax and is not classified as a separate tax. You will need to pay tax on the capital gains at the applicable marginal rate for that year Click here to read further about Capital Gains Tax Guide for Australian Expatriates: https://hubs.ly/H0zRHcP0

09.01.2022 I purchased a 2nd hand property, what can I claim? With residential depreciation legislation changing in May 2017, there has been some confusion amongst property investors and industry professionals and many have been wondering if second-hand properties can still claim tax depreciation. The fact is, second-hand properties built after 1987 that have had renovations completed by previous owners are generating great results for property investors.... Second-hand properties are generating great deductions from Division 43. The structural part of an investment property (eg: roof, framing, plasterboard, floorboards). It totals thousands in tax depreciation deductions and often holds steadily over the life of the tax depreciation report which is 40 years. Additionally property investors can claim tax depreciation for brand-new Division 40 assets that they have installed into their investment property (eg: carpet, blinds, stove). For the second-hand assets already in an investment property, a value is assigned to these items and when it comes time to sell the investment property this value will reduce the property investors capital gains tax. Instead of claiming for these second-hand assets at the start of the property investors journey, its now claimed at the end. Matt and Ange purchased a 20- year-old property on the 1/5/18. They are planning on holding the property as a rental for the next 10 years. The previous owners completed a bathroom renovation, they also added a pergola and deck. Matt and Ange over the next 10 years of owning their investment property will claim $45,107 in tax depreciation deductions and $26,490 in CGT savings on second-hand plant and equipment items (eg: carpet, blinds, stove). As they say the proof is in the pudding well the proof is in this case study Second-hand investment properties can still generate awesome results using the current legislation. Would you like to discuss your second-hand investment property? If you are unsure if your second-hand investment property or your clients property will stack, let us help! Contact our friendly team to discuss your property and find out what depreciation deductions are available to you. We provide free, all inclusive quotes and estimates of deductions up-front so you can feel confident before proceeding. Get in touch today on 1300 922 220. https://hubs.ly/H0wdCCS0

09.01.2022 What information will I need to provide when ordering my tax depreciation schedule? We like to keep the process for ordering your tax depreciation schedule as simple as possible. The only information we need to start the process is the address of your investment property, and an approximate date of purchase. The following list outlines the information we will require in order to complete your schedule.... If you are having difficulty finding the details, please don’t be concerned, we will be able to further assist: - The name the property is held in; - Purchase price; - Settlement date; - Details to arrange an inspection if necessary (e.g. Property manager or tenant details if self-managed); - The dates for any period of time you lived in the property (and it was not rented); - Date from when your property was available to rent (if different from settlement date); - Details of any improvements or additions you have made to the property (if you do not have records of costs we are qualified to estimate those for you); - Details of any furniture included (if you do not have records of costs we are qualified to estimate those for you). If your property is brand new and you have been quoted a discounted fee, we will ask you to provide to us: - A copy of your floor plans; - A detailed list of property inclusions; - Your contracted build price. - In most cases your builder will be able to assist you with these details. Check out our depreciation schedule order form here: https://www.capitalclaims.com.au/order-depreciation-schedu/

09.01.2022 Can I use the HomeBuilder grant to renovate my investment property? Since the announcement of the HomeBuilder grant of $25,000 we have had questions from our property investor community asking if they can use the grant to improve or extend their investment property. And subsequently, if they renovate the kitchen or bathroom of their investment property, what tax depreciation deductions are claimable. Property Investors are not eligible for the Homebuilder grant if they are l...ooking to buy a brand-new home that will be used as an investment property or if they wish to renovate their existing investment property. Also, companies and trusts who own residential property are also not eligible for the HomeBuilder grant. Property Investors even though you are not allowed to use the HomeBuilder grant for your future investment property renovation, you can still claim great tax depreciation deductions from your renovation! You are also entitled to claim tax depreciation for previous owners renovations, Division 43 structural works. For example, our property investor clients Jean and Inge purchased an existing property that was an original 1970’s house in 2017. Jean and Inge completed a $165,000 renovation in February 2019. The renovation included: new plumbing, electrical, kitchen and bathroom, deck, paint inside and out, new heating and cooling. Jean and Inge were able to claim in the 2019-2020 financial year $7,852 in tax depreciation deductions. And over the first five financial years $28,362. Checkout our HomeBuilder grant FAQ blog here: https://hubs.ly/H0xHmMf0 Call us during business hours on 1300 922 220 or via email at [email protected] to discuss your investment property.

09.01.2022 If I am working from home - do I have to need to organise a tax depreciation schedule? No. If you are using the short-cut method, then this amount it is already included in the 80cents per hour. If you are using any other method your proactive accountant will generally work out the depreciation value and often these assets can be immediately written-off at the time of purchase. A tax depreciation schedule is certainly the way to go when you are running a business from home ...and claiming the structural part of the property or in more complex situations, this is where a free and no obligation conversation with one of our specialists can help. If you would like more information about working from home and what you can and cant claim click here: https://hubs.ly/H0vy6BK0

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08.01.2022 Residential depreciation schedules for cash smart investors! We are experts at assessing and reporting on capital allowance and tax depreciation for residential properties. We generate maximum results for all property types including brand new builds, established properties, units/apartments/townhouses. ... Our commitment to exceptional service really sets us apart from our competitors get in touch and find out more today! Receive your free quote + free estimate of depreciation deductions available to you here: https://www.capitalclaims.com.au/quote-depreciation-schedu/

07.01.2022 L A N D L O R D S - We revisit the legislation change that occurred over 3 years ago. Some property investor believe that you cannot claim tax depreciation especially for second-hand properties. Myth - Investors who purchased their investment property after May 9, 2017 are not allowed to claim for depreciation of their property. True Fact - Investors who purchased their investment properties after May 9, 2017 are still able to claim for capital allowances and depreciation o...f their investment property. For purchases of brand new properties, nothing has changed in the new legislation. All structural (Division 43) and Plant and Equipment assets (Division 40) are still claimable as they were previously. Not only do these brand new properties generate the highest amount of depreciation to deduct each year, but with plans and total construction costs provided we can provide full depreciation schedules for these properties at a discounted rate. Our schedules provide full reporting for Division 43 Capital Works (for 40 years), plus itemised asset depreciation for each plant and equipment asset across their effective lives, maximising the deductions for every investor. Investors who have acquired established (second hand) properties since the change in legislation are presented with a slightly different set of rules. Whilst all of the capital works (Division 43) are still fully deductible, the depreciation of the Plant and Equipment assets acquired in the purchase is not deductible until calculating CGT at sale time. At this time, the accumulated depreciation is recorded as a claimable deduction in the year of sale, helping to reduce CGT payable. This accumulated depreciation can be worth tens of thousands of dollars and effectively reduce CGT payable by thousands of dollars. We take a further look at the below myths here: https://hubs.ly/H0wdyPY0:: Investors who purchased their investment property before May 9, 2017 are no longer able to claim depreciation since the legislation change. You dont need a full depreciation schedule now because the included assets are no longer claimable. You dont need a Quantity Surveyor to produce a depreciation schedule now. If you have any questions about your residential or commercial investment property we are happy to have a chat. Call Alex on 1300 922 220 or email [email protected].

07.01.2022 Let's start the journey! Are you looking to invest in property this year? Do you know what tax deductions you can claim from an old or new residential investment property? ... Look no further.... Download our FREE 'Rental Property Tax Deductions Checklist' here: >>>> https://hubs.ly/H0DP2P90 <<<< With over 20 deductions to claim, you will be surprised what can be claimed!!!!! PLUS get 2 bonus downloads! 6 Facts Every Property Investor Should Know About Depreciation 5 things you should know about purchasing a depreciation schedule now (during COVID-19) With all of the above FREE resources, you'll be on a great start to your investment property journey!

06.01.2022 FRIDAY LAUGH These attempts at Kmart DIY hacks are fails.... Cannot stop laughing at hack number 3 and the comment. https://hubs.ly/H0vXvm30

06.01.2022 OCTOBER 31 - TAX RETURN DUE DATE IS AROUND THE CORNER!!!!!! Have you organised your tax depreciation schedule for your brand-new or second-hand residential investment property? Here are a few questions to ask:... What is the turnaround time to receive your tax depreciation schedule Can they complete a virtual inspection at a discounted rate Do they complete minor updates for free What is their service guarantee Are they registered tax agents If you engage us here at Capital Claims Tax Depreciation: We have one of the quickest turnaround times in our industry 5-7 days We complete virtual inspections for qualifying properties at a discounted rate We complete minor updates for FREE Our service guarantee: if we do not achieve the approx. tax depreciation deduction range we gave you, your Capital Claims Tax Depreciation Schedule is FREE We are registered tax agents, here is our number: 82681005 We are a family owned business and strive to give our clients a boutique style service + achieve maximum tax depreciation results for our clients. Call us on 1300 922 220 or email Alex at [email protected] to discuss your investment property. Or to receive your FREE estimate of tax depreciation deductions available to you click here: https://hubs.ly/H0wF-4Q0

06.01.2022 Omnibus budget tax bill introduced. https://hubs.ly/H0xNrvP0

06.01.2022 The Urban Developer shares - Balmain Leagues Club Redevelopment Wins Approval! https://hubs.ly/H0wdCJh0

05.01.2022 Every year thousands of property investors pay more tax than they have to because they dont claim a tax deduction for the depreciation of their investment property.

05.01.2022 Happy Birthday to our Production Queen NADINE.....

05.01.2022 Property investment - Buying and managing an investment property. https://hubs.ly/H0x8Y1M0 https://hubs.ly/H0x903J0 One pro is claiming the tax depreciation deduction to help reduce your tax payable. For many investors the tax depreciation deductions totals thousands!!!!!!

05.01.2022 L A N D L O R D S - OCTOBER 31st IS AROUND THE CORNER!!! Are you starting to prepare to see your accountant so you can claim all of your tax deductions from your investment property? Download your FREE 'Rental Property Tax Deductions Checklist for the 2019-2020' financial year here https://hubs.ly/H0xMQFv0... With potentially over 20 tax deductions to claim, don't miss out! Here is what our client Vijay had to say about the checklist: 'The Capital Claims Tax Depreciation Checklist helped me not to forget to claim for items from my investment property, like the foxtel!' ...DOWNLOAD TODAY...

05.01.2022 #Commercialtenants https://blog.capitalclaims.com.au/what-can-i-claim-as-a-com

04.01.2022 Landlords are boosting their tax returns by thousands with this single deduction! Owners of rental properties that haven’t been claiming this one deduction could be missing out on some serious cash. Cashflow is critical for investors right now and with tax time approaching everyone is looking for ways to legitimately boost their tax return as much as possible.... This one deduction could help super charge this year’s tax return by thousands of dollars: TAX DEPRECIATION Tax Depreciation is the deduction that you can claim for the wear and tear and ageing of an investment property. Yearly deductions are typically thousands of dollars and it is often one of the single biggest deductions claimed by smart investors. Whether the property is new or old, there could be thousands of dollars of tax deductions available to owners for depreciation. Even properties bought second-hand can have thousands of dollars to claim in the building and renovations completed over time. Our depreciation schedules typically report $6,000 - $12,000 in deductions for the owners in just the first year. - Mark Wilkins, Director of Capital Claims Tax Depreciation. An investor can claim a tax deduction for depreciation just like any other common expenses such as: Council rates Bank and professional fees Interest Repairs and maintenance All that is needed is a depreciation schedule prepared by a professional quantity surveyor. Ordering a depreciation schedule is simple and the one-off fee for a 40 year report (years of reported tax deductions) is 100% tax deductible. Bonus If the investment property has been owned for a few years and the depreciation claims have never been made, landlords could be looking at a bumper return. Most investors have the ability to amend returns for previous years and back-claim tens of thousands of dollars in unclaimed deductions. Landlords can receive a personalised estimate of deductions here: https://hubs.ly/H0CVCZR0 Or learn more about investment property depreciation with this free Capital Claims Tax Depreciation eBook download: https://hubs.ly/H0CVzp20

04.01.2022 Treasurer alerted to instant asset write-off anomaly | AccountantsDaily https://hubs.ly/H0wdCKG0

03.01.2022 What to know before you apply for a business loan | Macmillans Finance https://hubs.ly/H0BrZdF0

02.01.2022 8-Week Tidy Challenge: Week 4 KonMari | The Official Website of Marie Kondo https://hubs.ly/H0wdCsw0

02.01.2022 ATO settles JobKeeper ordinary income debate.... https://hubs.ly/H0vMcxv0

02.01.2022 We offer our property investor clients a DISCOUNT if their property qualifies for a VIRTUAL INSPECTION!!!! Why pay full price for a site inspection , if it can be done virtually.... Check out our FREE eBook - 6 Things You Should Know About Inspections for Depreciation Schedules here: https://hubs.ly/H0wMn8c0 ... Find out about: A typical inspection; Who an inspection is completed by; How inspections are completed during COVID-19; What is a virtual inspection; How virtual inspections produce the same great tax depreciation results. + Get 2 bonus downloads! Rental Property Tax Deductions Checklist 2019-2020 5 things you should know about purchasing a depreciation schedule now (during COVID-19) If you would like to discuss your brand-new or second-hand residential investment property, call Alex on 1300 922 220 or email him at [email protected]. Find out if your property can be virtually inspected!!!!!

02.01.2022 We asked Michael Yardney who is a leading investment property adviser, "Why is tax depreciation important for property investors?" and he states: "The benefits of a tax depreciation schedule are far reaching. Depreciation deductions can significantly reduce your taxable income and help your property return a positive cash flow sooner." - Michael Yardney, Michael Yardneys https://hubs.ly/H0vXmR-0 How do I know if my investment property qualifies?... One of our expert team members will complete a free personalised estimate here: https://hubs.ly/H0vXmR_0 of approximate tax depreciation deductions available to you. Our guarantee is that we do not complete or charge for a tax depreciation schedule if it isnt worthwhile for the client. Find out the benefits of claiming tax depreciation by downloading our 6 facts eBook here: https://hubs.ly/H0vXmS00 Which includes: Depreciation for brand new properties Depreciation for second-hand properties Case studies + Get 2 bonus downloads! Rental property tax deductions checklist 5 things you should know about purchasing a depreciation schedule now (during COVID-19). Read our informative blog why tax depreciation is important for property investors: https://hubs.ly/H0vXmS10

02.01.2022 Over the weekend The Home Edit show on Netflix was discovered. Has anyone else watched this show? So many great tips on how to organise your home-space.... EDIT, CATEGORISE, CONTAIN, MAINTAIN. Check out: THE Weekly Mini-Projects: Kitchen https://hubs.ly/H0w7GZ90

02.01.2022 Repairs, Maintenance vs Capital Improvements Investors often confuse repairs and maintenance and capital improvements. Both are legitimate tax deductions, but they are treated differently when recording your deductions for tax purposes each year. Repairs and maintenance for your residential property means repairing or servicing an asset with the purpose of keeping it in the same condition as when it was purchased. Examples include repairs made to an oven, a wall, leaks fixed ...in a ceiling by repairing part of the roof, or replacement of fence palings or single panels of a broken fence. Repairs and maintenance costs can be claimed in whole in the year the cost is incurred; that is, the year you paid for the repair. Capital improvements and additions to your residential property are improvements made to an asset that are beyond the condition of that asset at purchase. Examples of capital improvements include things like replacing a roof, repiering the whole house, replacing walls, adding rooms, replacing fences, repainting, or replacing assets such as ovens, cooktops, rangehoods, blinds, carpets. Depreciating brand-new assets for a residential property that cost less than $300 (eg. exhaust fan, bathroom accessories, smoke alarm) can be claimed in full, in the financial year in which the item was purchased and installed. Capital improvements and additions that cost in excess of $300 must be depreciated over time, which means only a portion of the expense can be depreciated in the year of purchase, and the balance is claimable proportionally each year for the effective life of the brand-new asset. For example, a new tile roof, installed on the 1st July, for a cost of $20,000, has an effective life of 40 years, and will depreciate at 2.5% per annum. Commercial properties are treated differently again, read our article on refurbishing business spaces click here. Regardless of the type, if you own an investment property, the best way to ensure your depreciation deductions have been maximised is to use a depreciation schedule prepared by Capital Claims Tax Depreciation. For a free estimate of depreciation deductions you may be entitled to click here. You can also contact our team with any questions on 1300 922 220.

02.01.2022 L A N D L O R D S Are you getting ready to see your accountant this month or in October? Make sure youre prepared by ordering your Capital Claims Tax Depreciation Schedule. ... Tax depreciation is one of the biggest tax deductions that are available to landlords. With interest rates being so low, the tax depreciation deduction could potentially be the biggest deduction claimable for some property investors. How do I know if my investment property qualifies? One of our expert team members will complete a free personalised estimate of approximate tax depreciation deductions available to you. Our guarantee is that we do not complete or charge for a tax depreciation schedule if it isnt worthwhile for the client. Do I need to pay for my tax depreciation schedule every year? No. A schedule is a one-time investment that is also fully tax deductible in the year you purchase it. Free updates can also be made where you have replaced, added or upgraded assets or you have done minor improvements and have the costs and details available. If you have completed major works and estimating is required, then there may be a fee involved. Dont be a property investor that didnt claim one of their biggest tax deductions. You can order your Capital Claims Tax Depreciation schedule online here https://hubs.ly/H0vXmYR0 today. You can call us on 1300 922 220 or email Alex at [email protected]. Alex will be happy to give you a free personalised quote for your residential or commercial property. We would be happy to help you

01.01.2022 With interest rates being so low, the TAX DEPRECIATION deduction could potentially be the biggest deduction claimable for some property investors. Would you want to leave $1,000 in tax depreciation deductions unclaimable? What about $10,000? What about $100,000? Claim your tax depreciation deduction today from your residential or commercial investment property.

01.01.2022 One of Australia’s largest banks is forecasting strong growth in the housing market as low interest rates and availability of credit pushes prices up, despite the country being in its first recession in nearly three decades. https://hubs.ly/H0x8Y2w0

01.01.2022 Can Accountant Do The Tax Depreciation Schedule For My Rental? Accountants are not qualified to estimate construction costs, which includes more than just materials & construction labour. For example, accountants are not qualified to estimate construction works & associated costs of previous works over the life of the property. Our research shows that depreciation claimed by accountants without the use of a professionally prepared tax depreciation schedule are far more conse...rvative & result in thousands of dollars in lost deductions for the investor. In order to maximise your depreciation claim, you need to have a report prepared by a quantity surveyor. Quantity Surveyors are one of the few professional groups that are recognised by the ATO as being appropriately qualified to accurately assess and report on construction costs and depreciable values. It is important to note that accountants can apply actual costs, but are not recognised by the ATO as being appropriately qualified to estimate construction costs, and so any calculations prepared by them may be deemed non-compliant, a thorough understanding of the Income Tax Assessment Act, applicable rulings, case law and specialist construction costing skills are required. If you own an investment property, the best way to ensure your depreciation deductions have been maximised is to use a tax depreciation schedule. Who can I talk to about depreciation for my investment property? A Capital Claims Tax Depreciation team member will be very happy to answer any questions you may have about claiming depreciation on your investment property. You can contact Alex during business hours on 1300 922 220 or via email on [email protected]. If you would like a free estimate of what tax depreciation deductions youre entitled to click here. https://hubs.ly/H0wdL_-0

01.01.2022 Rentvesting: How millennials are getting a foot in the property market while living where they want. HOT TIP MILLENNIALS If you are rentvesting make sure you order a tax depreciation schedule for your investment property. By claim your tax depreciation deduction and could potentially reduce your tax payable by thousands. https://hubs.ly/H0wThVd0