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BMT Tax Depreciation wins Reader's Choice Award!
In the "Your Investment Property" magazine Reader's Choice Awards 2008, BMT Tax Depreciation was voted the Best Property Tax Specialist with an overwhelming number of votes from investors!
Grab the February issue of "Your Investment Property" to read more.
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BASIX
Direct Costs of BASIX compliance for multi-unit dwellings
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BMT & ASSOC were engaged by The Centre for International Economics to conduct an independent costing of the additional commitments required by a sample of developments to achieve compliance with the proposed New South Wales Government's Building Sustainability Index (BASIX). Read More
The original implementation date was 1 July 2005, this was pushed back to 1 October 2005. It has recently been reported that BASIX will now apply to alterations and additions in New South Wales from 1 July 2006.
The new timeline will allow for more extensive consultation with all stakeholders such as industry, local government and homeowners. It will also allow more time for developing practicable and cost effective greenhouse and water reductions for the broad range of household renovation scenarios, including first floor additions, new kitchens, new bathrooms and swimming pools. An extended exhibition period will now be possible to ensure far-reaching public participation and feedback from across the State.
For further information regarding the cost implications of BASIX, please contact BMT & ASSOC.
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July 2004 Changes in Legislation
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- Australian Taxation Office has reviewed the classification
and effective life of assets typically found in residential
properties.
- Changes are applicable to property owners who exchange
on a residential property after 1 July 2004.
- All items previously allowed are still claimable, the
classification of various depreciable items has changed
(Division 40/Division 43).
- In effect some items are no longer depreciable, but are
classified as claimable under the appropriate (Division
40/Division 43) classification.
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Click here for more details. |
