Benefits of Investment Property Depreciation in Geelong, VIC
Investors seeking to boost their financial outcomes often overlook a crucial tool: investment property depreciation in Geelong, VIC. Whether you're managing a residential or commercial portfolio, claiming depreciation can significantly reduce your taxable income, helping you keep more of what you earn.
What Is Investment Property Depreciation in Geelong, VIC?
Depreciation refers to the natural wear and tear on a building and its fixtures over time. The Australian Tax Office (ATO) allows property investors to claim this loss in value as a tax deduction. By leveraging an ATO-compliant depreciation schedule, Geelong investors can legally and effectively reduce their taxable income each financial year.
There are two main types of depreciation:
- Capital works (Division 43): Refers to the structural element of the building (e.g. walls, doors, windows).
- Plant and equipment (Division 40): Covers easily removable assets such as carpets, blinds, and air conditioning units.
Together, these deductions can lead to thousands of dollars in tax savings annually, particularly in newer properties or extensively renovated buildings.
Why Work With a Quantity Surveyor in Geelong, VIC?
To claim maximum deductions, investors need a detailed and accurate depreciation schedule. This is where a quantity surveyor in Geelong, VIC becomes indispensable. These professionals assess your property, identify all depreciable assets, and prepare a schedule that meets ATO guidelines. At Just Depreciation, our team follows a streamlined process that ensures compliance and maximises claims. From the initial consultation to the final delivery of your report, our approach is thorough, clear, and tailored to your investment needs.
Real-Life Savings for Geelong Investors
Consider a recently built residential property in Geelong valued at $600,000. A professionally prepared depreciation schedule could allow the investor to claim over $10,000 in the first year alone. For commercial property owners—such as those with office or retail spaces, the potential savings are often even greater, particularly when high-value plant and equipment items are included. These deductions not only improve yearly cash flow but also support long-term investment strategies by enhancing return on investment.
Contact Us Today for Investment Property Depreciation in Geelong, VIC
If you're ready to unlock the full financial benefits of your property, Just Depreciation is here to help. Our team provides comprehensive, ATO-compliant depreciation schedules tailored to both residential and commercial investments across Geelong, VIC. Contact us today to learn how we can support your tax strategy and ensure you’re claiming everything you’re entitled to.
