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What if Santa’s workshop was an investment property?

BMT team — Thu, 20 Dec 2018 21:31:53 +0000

Santa’s workshop has the power at Christmas time to capture our imaginations and cast them to the snowy North Pole, where our minds bear witness to the source of the joyful magic of the holiday season. Whilst the big, jolly, red guy is making his list and checking it twice, his playful elves are helping to build, test and wrap all those special toys and games in time for Santa to deliver around the world on Christmas Eve. One such clever elf in Santa’s service, is Brad, the BMT Christmas elf. Brad the elf pointed out to Santa the tax depreciation deductions claimable in his toy making workshop. By claiming depreciation at tax time Santa discovered just how easily he could increase his cash flow. It was as simple as jumping online and requesting a quote from the BMT Tax Depreciation website. After a visit to the North Pole by a BMT depreciation expert, Santa learnt that he is indeed eligible to claim all the wood working machinery and hand tools plus his work bench. He can also claim the light fittings and the ducted gas heating which is essential in the freezing, wintery climate of the North Pole. Santa was surprised to learn that the structure of the Christmas toy workshop was also claimable as a capital works deduction. As the example below shows, Santa could claim $17,366 in the first full financial year’s depreciation deductions. Santa only needs to get a depreciation schedule produced once as it lasts 40 years and will outline the depreciation deductions for the lifetime of his workshop. The cost of the report itself is also 100 per cent tax deductible. Like Santa, if you have not previously claimed depreciation, your accountant may be able to backdate your claim for the previous two years, so you can recoup some additional cash back on previous years’ tax returns. With more than twenty years of experience, BMT Tax Depreciation’s specialist staff conduct physical property inspections to ensure that all claimable assets are included in each tax depreciation schedule. Contact the expert team at BMT on 1300 728 726. BMT would like to take this opportunity to wish everyone a very Merry Christmas and a safe holiday season.

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Top tips for property investment success in 2016

Bradley Beer — Mon, 18 Jan 2016 05:17:44 +0000

2015 was a very interesting year for property investors. We’ve had unprecedented growth throughout the Sydney and the Melbourne market. This meant that it became harder to buy in these markets. Rental yields have been decreasing, meaning that investors have less cash flow available to ensure their numbers stack up and owning an investment property remains affordable. APRA has also increased regulation on the banks to slow investor lending. What this has meant for new investors is that it is not as easy to get a loan as it has done in the past. For existing lenders, the banks actually increased interest rates, which is something we haven’t seen for investors only for some time. I think it is very important to learn from the past and to be prepared for what a New Year will have to bring. With this in mind, we would like to share some of our resolutions and tips as a property investor in 2016. Go outside my comfort zone Often investors will look close to home buying an investment property, especially when it’s a first purchase. This year, look at the historical growth of areas outside your comfort zone, perhaps surrounding suburbs or even other states that could provide better returns. Don’t follow the herd Investors tend to rush into hot spots and often are guilty of overlooking other possibilities. It’s important to look at the rental yields which can be achieved as well as to do your research on price growth in the area over recent years. Look for the long term possibilities in an area, rather than just for properties which may offer only short term gains. Look at the complete picture Ask yourself the question, ‘do I have a real understanding of the costs involved in holding an investment property?’ While many investors will find out what income can receive, less rarely will they find out all of the expenses involved. A depreciation estimate allows investors to crunch their numbers so they can get a complete picture of their situation including what deductible expenses they can claim before they decide to buy a property. Budget now for the future Everybody gets busy and sometimes attention to your budget can easily get left aside. It’s important to check in on your budget regularly and make improvements along the way so you don’t get caught out at the end of financial year.Consider ways to take advantage of available deductions throughout the year rather than waiting such as a Pay As You Go withholding variation. These valuable dollars can be used for repairs, maintenance and even improvement on your property now rather than at the end of the year, or put into an offset account to help reduce interest on your loan. Learn from the experience If you have invested in property in the past, your experiences can help guide you when making decisions in the future.Sometimes the best lessons are learnt from the mistakes you have made and sometimes they come from the successes you have had.Consider reassessing your existing portfolio. Ask yourself while doing so what improvements you can make to get a better result from the properties you already own as well as potential new purchases in the future.It is also important to continually keep educating yourself. Watching market predictions, hot spots and evaluating the data can assist; however remember that the market can change and sometimes be difficult to navigate. Simply by seeking advice from the experts when you need it and following these handy resolutions, your 2016 investment journey is sure to be a successful one. Best wishes for the New Year from all the team at BMT Tax Depreciation. We look forward to assisting you with all your depreciation needs throughout 2016.

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BMT Tax Depreciation on Your Property Empire – 07/09/2015

BMT team — Thu, 10 Sep 2015 06:55:09 +0000

BMT Tax Depreciation Chief Executive Officer Bradley Beer joins Your Property Empire host Chris Gray to discuss the property market and how it is seen by tax depreciation specialists through the property depreciation activity from property investors. They also look at properties with Nathan Gallagher head of Real Estate News Limited, and at market numbers from around the country presented by Eliza Glastonbury from Century 21.

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Your Money Your Call – BMT Tax Depreciation 17/8/2015

BMT team — Tue, 18 Aug 2015 07:31:01 +0000

In this episode of the new extended Your Money Your Call on the Sky News Business Channel, BMT CEO Bradley Beer joins Host Margaret Lomas and Brad Matthews from Rescom to discuss the property market, depreciation and property investing. They also answer a host of interesting viewer questions. Watch the full episode below.

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BMT Tax Depreciation On Your Property Empire – 06/07/2015

BMT team — Tue, 07 Jul 2015 06:40:30 +0000

In this episode of Your Property Empire, BMT Tax Depreciation CEO Bradley Beer joins host Chris Gray, News Limited Executive Tom Panos and Charles Tarbey of Century 21 to talk about increasing the cash flow on your investment property without spending any more, what kind of properties would the panel be looking for right now and property statistics from around the country.

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BMT Tax Depreciation on Sky News Business Your Money Your Call – 25/05/2015

BMT team — Tue, 26 May 2015 06:19:55 +0000

In this episode of Your Money Your Call our very own BMT CEO Brad Beer joins Host Margaret Lomas and Damian Collins of Momentum Wealth to discuss the recent decision by banks to put the brakes on investor lending, co-insurance, depreciation and property investing. They also answer a host of interesting viewer questions.

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BMT Tax Depreciation on Sky News Business Your Money Your Call – 11/05/2015

BMT team — Wed, 13 May 2015 00:08:53 +0000

In this episode of Your Money Your Call our very own BMT Associate Director and Partner Nol Petrohelos joins Host Margaret Lomas and Simon Pressley of Propertyology to discuss the property market, depreciation and property investing. They also answer some interesting viewer questions.

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BMT Tax Depreciation – The Maverick Newsletter Issue 37

BMT team — Mon, 23 Mar 2015 22:30:53 +0000

The latest edition of BMT’s bi-annual newsletter Maverick is now available. In this issue there is some great insights into depreciation, new tax rulings, back claims, granny flats and depreciation, updated construction cost tables and a whole lot more valuable information for you and your clients. Inside issue 37: What are you missing out on? Go back and amend previous tax returns for 2 years. Those 2 years could add up to over $26,000 in deductions. Read about how much investors are missing out on and how they can recoup some of these valuable deductions to increase their cash flow. It’s your insurance Find out more about BMT’s new RepCost app which allows individuals to estimate the replacement cost of their property. Use the reminder function to receive updated replacement costs each year. Download Rep Cost now Australian Tax Office (ATO) states estimates are acceptable Estimates of construction costs for the purposes of depreciation have been determined to be acceptable by the ATO. Outlined within the Income Tax Assessment Act initially, a recent ATO Issues Log provides greater clarification. Quantity Surveyors shouldn’t offer referral fees Quantity Surveyors should not offer referral fees. If your tax advisor or real estate professional refers you to a depreciation provider, ask if they are receiving a referral fee. If so, ask yourself, ‘why would a consultant need to pay someone to refer their product?’ 4% gone, but capital works shouldn’t be forgotten The 4% capital works rate of deduction has now expired. Find out how capital works deductions can still be claimed on older properties. A gold mine in your own backyard No longer just for grannies, the granny flat or secondary dwelling has grown in popularity after legislation changes in some states across Australia now allow them to be used as investment properties. Read about the amount of deductions available for these secondary dwellings. Subscribe to The Maverick Newsletter here.

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BMT Tax Depreciation on Sky News Business Your Money Your Call – 16/03/2015

BMT team — Wed, 18 Mar 2015 05:27:57 +0000

Your Money Your Call host Margaret Lomas is joined by Real Estate Author Peter O’Malley and BMT’s Managing Director Brad Beer to discuss the Australian property market and to answer viewer questions on property investing and depreciation.

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Your Property Team on Sky News Business Your Money Your Call – 09/03/2015

BMT team — Wed, 11 Mar 2015 04:05:39 +0000

From Crow’s Nest Sydney, in this special edition of Your Money Your Call Host Margaret Lomas Your Property Team’s 6 handpicked property experts join her on the panel to answer investor questions ranging from Capital Gains Tax to structuring of loans as well as specific markets. See Margaret Lomas, Lisa Montgomery, Michael Teys, Ian Rodrigues, Dr Andrew Wilson and BMT Tax Depreciation Managing Director Brad Beer answer live audience questions on the Australian property market , property investing and depreciation.

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