The Depreciation Process
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Step 1:
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Phone your nearest BMT Tax Depreciation office for a quote, alternatively complete the online request form.
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Step 2:
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Once the quote is accepted, we will arrange access to the property with your property manager and/or tenant.
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Step 3:
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A BMT Tax Depreciation staff member will visit your property and measure the building, assess the construction and record all depreciable plant and equipment items (including common areas in a strata complex).
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Step 4:
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Using information from the inspection and other relevant sources, BMT Tax Depreciation will then complete your report outlining exactly how much depreciation you are entitled to each year, for the life of the property.
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Step 5:
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After a thorough quality assurance procedure involving the cross checking of all figures, the report is either posted or emailed to you and/or your accountant.
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The report will ensure maximum depreciable items are identified and will take into account the pooling of low cost and low value items allowed within the capital allowance system. The report is valid for the life of the property or until capital improvements are undertaken. It is the aim of BMT Tax Depreciation to make the process as easy as possible for the client, gathering all information and preparing the report with a turnaround time of approximately 7 days from the inspection.
BMT make the process easy!