Smart Tax Deductions: Maximise Returns With Leslie Ren

In this episode, Tom Carr chats with Leslie Ren from DuoTax about the ins and outs of property depreciation—an often overlooked but powerful tool for real estate investors. Leslie shares insights on how depreciation works, when to engage professionals, and how property owners can maximise their tax deductions to grow wealth.### Key topics:- What is tax depreciation and how does it benefit property investors- The role of quantity surveyors versus accountants in creating depreciation schedules- Types of properties that qualify for depreciation (new builds, renovations, older properties)- The process for obtaining a depreciation schedule and timing considerations- Common myths about depreciation—for owner-occupiers and renovations- How international investors can leverage depreciation in Australia- DuoTax's market position and service process across Australia- Practical tips for investors to start claiming depreciation and its impact on cash flow### Resources & Links:### 🎙️ Guest Leslie Ren - Socials & Contact:🔗 Website: duotax.com.au/📸 Company Instagram: instagram.com/duotaxqs/💼 LinkedIn: linkedin.com/in/leslie-ren-579970214/📧 Contact: [email protected]🎙️ Host Tom Carr – Socials & Contact:💼 LinkedIn: linkedin.com/in/tomrcarr🔗 Website: wombathomeloans.com.au📧 Email: [email protected]🎧 The Property Web – Socials:📸 Instagram: @thepropertywebpod📘 Facebook: @thepropertywebpod📧 Email: [email protected]### Timestamps:00:00 - Welcome and overview of the episode00:34 - Introduction to Leslie and DuoTax's expertise in property depreciation01:49 - The basics of depreciation: capital works and plants and equipment03:22 - How depreciation offsets can reduce your tax bill annually04:36 - The longevity of depreciation reports and ongoing deductions05:34 - Leslie’s journey into property investment and depreciation benefits06:51 - The significance of starting early with depreciation strategies08:20 - When and why property investors should approach DuoTax09:21 - Property types eligible for depreciation and special cases (new builds, renovations)10:57 - Myths about depreciating assets in apartments and old properties12:16 - How renovation work impacts depreciation claims on secondhand properties13:20 - The importance of professional assessments versus DIY methods14:46 - DuoTax’s history, market niche, and service turnaround time17:54 - Dispelled myth: owner-occupiers cannot claim depreciation on their primary residence18:35 - Pathways to claiming depreciation after converting owner-occupied into investment property19:24 - The value of depreciation schedules in the property investor toolkit20:29 - How overseas investors can benefit from depreciation provisions21:26 - Real-world example: multiple properties with significant deductions22:58 - Future plans for Leslie and DuoTax: expanding awareness among investors