There are three essential steps that we take to prepare your schedule
1. Gathering information
To prepare a comprehensive report for your investment property we’ll always strive to gather the information we need from you in one go. We’ll also need to examine any of the documentation you have for your property to determine their usefulness for the purpose of the claim.
Key details we’ll collect from you include:
- Owner(s) details: The name you would like to appear on the report
- Property details: including the address, settlement date and purchase information
- The ownership percentage of the property: Where there is more than one owner, BMT will organise a split schedule to ensure that each owner's deductions are maximised – this generally results in higher deductions for each owner in earlier years
- Property Manager’s details: We will liaise with your Property Manager or tenant to organise access to your property to complete a site inspection, saving you time
- Postal address: Your BMT Capital Allowance and Tax Depreciation Schedule will be emailed out within 5 – 7 days of all information being gathered. You can also request a printed copy, just let us know when you’re ordering
- Accountant details: We can also send your depreciation schedule directly to your nominated Accountant – saving you both time and hassle.
Depending on the type of property you have we may also need to ask a few additional questions.
The property inspection
BMT inspects all properties for the purpose of completing a tax depreciation schedule. One of our professionally trained site inspectors will visit your property to measure the building, assess the construction and record all depreciable plant and equipment assets. In the case of apartments or strata complexes, this includes all common property items where legislation allows.
As properties need to be income producing before tax depreciation can be claimed, we’ll often need to speak with your Property Manager and / or tenant to arrange access to your investment property to complete this inspection. We can be flexible with these arrangements to ensure minimal disruption to your tenant during this period. Find out more about how we work well with property tenants.
2. Preparing your schedule
Preparing and producing your schedule, involves depreciation and tax specialists reviewing all information gathered. Once the draft report is ready, it is then thoroughly reviewed and checked via our stringent quality control and assurance department to ensure all deductions have been maximised for our clients.
Once the schedule has been checked, it is available to send out to our clients via email or post, if requested.
3. Claim deductions
Once you receive your schedule you can use it to maximise your depreciation deductions for the lifetime of your property.
The fee for your schedule is also 100% tax deductible, just like your Accountant’s fees, so you really can’t lose when you choose a depreciation schedule prepared by Australia’s leading supplier of tax depreciation schedules.
See how many happy property investors have benefited from their investment property depreciation schedules.
How do I organise a schedule?
Organising a BMT Tax Depreciation Schedule couldn’t be easier.
Request a quote for your tax depreciation schedule.
We’ll collect property details, then contact your Property Manager or Tenant to arrange access to complete a property inspection.
Your schedule will be available within 5 – 7 days of all information being gathered. BMT can even forward your schedule to your Accountant directly, saving you time.