Tax Depreciation Schedules

We Can Prepare Your Tax Depreciation Schedule in Grafton

Services for Tax Depreciation Schedules

At Clarence Property Consultants, we provide comprehensive tax depreciation schedule services for income-producing commercial, residential and rural properties in Grafton and the wider Clarence Valley. Our team can calculate and claim depreciation allowances on your behalf, considering all relevant factors.

We will work closely with you so you can ensure every aspect of your investment property is accounted. Your tax depreciation schedule will consider the type of property you own, its age and any historical construction costs.

Our team understands the complexities of the depreciation deduction process and can provide you with a comprehensive report that meets the Australian Taxation Office requirements. We are committed to helping property owners maximise their deductions in order to save on their tax return. For more information about our services, or to speak to one of our consultants about your investment property, please contact us today. You can schedule an appointment by calling 0408 662 773.

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How It Works

When we complete a tax depreciation schedule for your property, we will begin by reviewing the age and condition of your property in relation to ATO requirements. From this review, we can then assess your investment property’s eligibility for deductions.

Construction costs, depreciation rates and wear and tear are some of the considerations taken into account when calculating the deductions available. A tax depreciation schedule will include two categories of deductions: capital works and plant and equipment:

Capital works deductions: These types of deductions are typically related to the building itself, such as foundations, walls, roofs and other fixed items. Deductions are calculated based on the historical construction costs of your property.
Plant and equipment deductions: Plant and equipment deductions relate to easily movable items, such as furniture, appliances, tools, equipment and other fixtures. These deductions are calculated based on the original cost of the item and its depreciating value over time.

Once we have prepared a detailed tax depreciations schedule report, we will submit it to the ATO for review. To find out more, get in touch with our team today.

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Frequently Asked Questions

What is a tax depreciation schedule?

A tax depreciation schedule is an accurate and comprehensive report outlining the deductions that can be claimed on an income-producing property. These deductions are based on the age and condition of the property, its construction costs and wear and tear. A tax depreciation schedule allows you to claim these deductions over time, thus reducing your taxable income. Clarence Property Consultants can prepare tax depreciation schedules that meet Australian Taxation Office requirements.
What are some examples of items that can be claimed as capital works deductions?

Examples of items that can be claimed as capital works deductions include the building itself (for example foundations, bricks, mortar, walls and roofs) and other fixed items (such as doors and windows). Capital works deductions are calculated based on the historical construction costs of your property.
What are some examples of items that can be claimed as plant and equipment deductions?

Examples of items that can be claimed as plant and equipment deductions include furniture, carpets, curtains, blinds, air conditioning systems, ceiling fans, kitchen appliances and white goods. Plant and equipment deductions are calculated based on the original cost of the item and its depreciating value over time. At Clarence Property Consultants, we understand that tax depreciation can be complex and confusing, so our team is committed to making the process as simple as possible.