The properties from the hit Channel Nine show ‘The Block’ are an under lying gold mine.
Managing Director of BMT Tax Depreciation Bradley Beer has provided an independent depreciation assessment of the completed properties identifying significant deductions available to property investors.
The four properties were purchased for an average of $950,000 each and over $700, 000 per property has been spent in additional works.
“If an investor is to purchase one of these properties for the anticipated $1.1 to $1.2 million, they represent great value based on the overall expenditure,” says Bradley Beer.
BMT Tax Depreciation identified that an investor purchaser could claim over $30,000 in deductions during the first full year and a cumulative total of $140,000 in the first five years of ownership.
BMT Tax Depreciation prepares tens of thousands of property depreciation reports each year through eleven office locations around Australia and are specialist Quantity Surveyors.
Quantity surveyors are one of the few professions recognised by the Australian Taxation Office to have the appropriate construction costing skills to estimate building costs for depreciation.
“Research shows that 80% of property investors are failing to take full advantage of property depreciation and are missing out on thousands of dollars in their pockets,” said Mr Beer.
What is depreciation?
As a building gets older, items wear out – they depreciate. The Australian Taxation Office allows property owners to claim this depreciation as a deduction. Depreciation can be obtained by any property owner who obtains income from their property.
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BMT Tax Depreciation