Depreciation is the process of devaluing assets as they decrease in value over their lifetime until reaching the end of their useful life.
If you have an investment property it can be depreciated and you are deemed to benefit from the process significantly.
All investment properties qualify and the process allows property owners to claim tax deductions through the ‘wear and tear’ of their properties.
Through obtaining a complete depreciation schedule compiled by an ATO recognised Qualified Quantity Surveyor; investors are claiming thousands of entitled dollars back and increasing the overall profitability and efficiency of their investment properties.
This example demonstrates how the money saved through the depreciation schedule is contributed back into the owner’s repayment scheme and reduces the life of the loan by over 12 years and saves them $323,688