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depreciation – are you claiming enough?

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ben_and_angeOur Property Investment Consultants, Ben and Angela, offer insight into claiming maximum tax benefits on your investment property.

When purchasing an investment property it is important to note that in some circumstances, the cost of construction, extensions, alterations or improvements may be written off as a tax deduction over a period of time, depending on when the construction or alterations occurred.

If the work on the investment property was carried out prior to July 18, 1985 you are not entitled to claim a depreciation allowance, however, if the extensions, alterations or improvements occurred after this date you may be entitled to a deduction.

The laws relating to claiming depreciation on buildings used to generate rent can often be complicated.

For peace of mind and to ensure you obtain all the allowable deductions, we strongly recommend seeking the advice of an accountant or tax adviser.

To discuss options to best position your investment property, call our experienced Property Investment Consultants today:
Ben Pattison: 6939 7109 or 0401 831 771     Angela King: 6939 7110 or 0408 284 053