Mastering Property Tax Depreciation For Maximizing Returns

This episode of the Help Me Buy Property Podcast focuses on property depreciation. Our host Moxin Reza and honorable guest Jack Meller; discussed how property depreciation works, the difference between capital work deductions and plant and equipment, and the benefits of depreciation statements for investors. Property depreciation is generally known to be an assessment of the future wear and tear of a property and allows investors to claim deductions for depreciation of assets. Depreciation is further split into two main types namely, capital work deductions (structure of the building) and plant and equipment (fast-depreciating items like appliances), this is majorly for the taxation calculation. The depreciation statements are curated in order to help investors claim deductions for general wear and tear on the property, renovations, and structural works when it comes to filing of taxation. Now it has been noticed that new properties generally have better depreciation claims, but all properties can benefit from depreciation schedules or statements. New properties obviously give out a better depreciation rate because of lesser usage/constructed time. It is important to know that due diligence is crucial in preparing depreciation reports, and attention to detail is important to avoid missing out on claimable items. Episode Highlights: 00:00 Welcome to Helpmebuy Property Podcast 02:19  Introduction to Property Depreciation 07:55  Changes in Property Depreciation in November 2017 16:00  On-Site vs. Desktop Property Depreciation Reports 21:01  The Good, the Bad, and the Ugly of Depreciation Schedules  About the Guest: Jack Meller is the Director of Meller Quantity Surveying. He produces detailed tax depreciation schedules for Australia’s top 5 wealthiest individuals and offers a consistently high standard of service to all customers. He knows the secret of Australia’s wealthiest people is that they invest heavily in their advisors, and they don’t pay a cent more than they need to pay on their commercial and investment property taxes. Jack can be reached out on M: 0470 365 356 http://www.mellercorp.com.au/  Resources: Visit the Investor Partner Group website: https://helpmebuy.com.au/ Join us on our FREE Facebook Group: https://www.facebook.com/groups/helpmebuyau You can also connect with us on https://www.linkedin.com/company/77080688. For more podcast episodes, subscribe to our Youtube Channel at https://www.youtube.com/@moxinreza Keep smiling, be kind, and continue investing. Peace out!  Hosted on Acast. See acast.com/privacy for more information.