Benefits exist for numerous individuals
A quantity surveyor is recognised by the Australian Taxation Office (ATO) under TR
97/25A as appropriately qualified to estimate construction costs of a building for
taxation purposes. A Capital Allowance & Tax Depreciation Report should be
obtained in order to maximise the available tax credits along with ensuring claims
are in accordance with all relevant ATO rulings and legislation.
Numerous individuals with a vested interest in the property industry may require a
Capital Allowance & Tax Depreciation Report. These include:
• Investors: A Capital Allowance & Tax Depreciation Report is an assessment of
the depreciation obtainable from a property. This document illustrates to the investor
the maximum depreciation benefits available. This document is recognised by the
ATO and is suitable for use in a tax return.
• Accountants: BMT & ASSOC identify the maximum Plant and Equipment (Division
40) and provide accurate construction figures for the Capital Works Allowance
(Division 43). BMT & ASSOC is the preferred supplier of Capital Allowance & Tax
Depreciation reporting services for the National Tax & Accountants’ Association
(NTAA), offering accountants a user friendly report that maximises client’s
deductions.
• Real Estate Agents: Maximising tax depreciation on investment properties is
becoming more widely recognised as a lucrative means to increase the return from
owning an investment property. Astute investors often request depreciation figures
when selecting an investment property. When selling or managing property, in
conjunction with BMT & ASSOC, real estate agents will have more tools to offer a
specialised and value adding service to clients and potential clients.
• Developers: Capital Allowance & Tax Depreciation estimates can be produced
for a development complex, demonstrating the maximum and minimum range of
depreciation for marketing purposes. The report will show the expected depreciable
plant and equipment within the building and the capital works allowance. This
document can be presented to potential purchasers. BMT & ASSOC provide enough
scenarios to cover the range of property available for purchase within the
development, often assisting with early sales.
Whether you are a property investor, accountant, real estate agent or developer,
BMT & ASSOC can provide a Capital Allowance & Tax Depreciation report or estimate
to meet your requirements.
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