The BMT Guarantee
Residential case study
Commercial case study
Investment property depreciation is:
Investment property depreciation is:
Wear and tear
As a residential building ages and items within it wear out, they depreciate.
Claimable
Claimable by all residential investment property owners each financial year. Maximising depreciation deductions reduces an investor’s taxable income.
Decline in value
Depreciation is a decline in value tax deduction for the building structure and plant and equipment assets of any income-producing property.
Maximised by a quantity surveyor
A specialist quantity surveyor such as BMT helps to maximise the depreciation claimable for residential investment properties.
A comprehensive tax depreciation schedule prepared by BMT Tax Depreciation will help you claim all available depreciation tax deductions for the effective life of your investment property.
What’s included in a BMT Tax Depreciation Schedule?
Forty-year life
A detailed forty-year forecast table illustrating all depreciable plant and equipment and capital works deductions.
Different depreciation methods
The difference in claims using both the prime cost and diminishing value methods of depreciation.
Common property
Depreciation for common property such as lifts and swimming pools where legislation allows.
A BMT Tax Depreciation Schedule:
A BMT Tax Depreciation Schedule:
Claim missed deductions
Is structured to help you amend previous years’ tax returns to re-coup any unclaimed or missed depreciation benefits.
Pro-rata calculated
Is pro-rata calculated for the first year of ownership based upon the property’s settlement date.
Split schedules
Can be split based on ownership percentages, which can lead to higher deductions for owners in earlier years.
BMT Guarantee
Is backed by the BMT Guarantee. If we can’t find double our fee in deductions in the first full financial year claim there will be no charge for our services.
How do I claim maximum deductions on my residential investment property?
How do I organise a schedule?
Organising a BMT Tax Depreciation Schedule couldn't be easier.
1: Get a Quote
Request a quote for your residential tax depreciation schedule.
2: Provide details
We’ll collect property details then contact your property manager or tenant to arrange access to complete a property inspection.
3: Claim deductions
Your customised depreciation schedule is delivered to you and your nominated accountant.
FAQs about depreciation schedules
FAQs
FAQs about depreciation schedules
What areas do you cover?
BMT Tax Depreciation is one of only a few tax depreciation schedule providers that offer an Australia-wide service. No matter where in Australia your property is located, we can help. For details of your nearest office please visit the contact us page.
Do you inspect properties?
Yes, we inspect properties to ensure that we identify all assets and maximise the depreciation deductions available. This assures our schedules are fully compliant with the requirements of the ATO and the guidelines set out by the Australian Institute of Quantity Surveyors and the Royal Institute of Chartered Surveyors.
Is my property too old to claim depreciation?
It is a common myth that older properties will attract no depreciation claim. However, both new and old properties will hold some depreciation benefits.
A depreciation schedule is the best way to ensure the biggest tax refund possible. A BMT Tax Depreciation Schedule covers all deductions available over the lifetime of a property.
Can I claim previous renovations?
Yes. Anything in the property that is part of a previous renovation will be estimated by our quantity surveyors and depreciated accordingly, even if the work was completed by a previous owner. This includes items that are not obvious, for example new plumbing, water proofing or electrical wiring.
Doesn’t my accountant already take care of this for me?
BMT Tax Depreciation works with your accountant to ensure that your depreciation claim for your investment property is maximised each financial year. The ATO states in taxation ruling 97/25 that quantity surveyors such as BMT Tax Depreciation are one of the only recognised professions with the appropriate construction costing skills to estimate construction costs for depreciation purposes.
Can I use the tax depreciation estimate provided when I purchased the property for my tax return?
No. You will need a personalised tax depreciation schedule to claim depreciation each tax time. A BMT Tax Depreciation Schedule will outline the maximum depreciation deductions for your income-producing property.
Do I need a new schedule each year?
You only need one tax depreciation schedule per investment property. We recommend you get your schedule soon after settlement to ensure that you’re claiming the maximum deductions straight away.
If you make significant changes to your property, you may need to update your schedule.
MyBMT
manage depreciation and your investment property with ease
As a BMT client you will also receive complimentary access to our depreciation portal, here you can:
Schedules and Policies
View update and download depreciation schedules.
Record Keeping
Track property income and expenses, upload files, photos and receipts.
PropCalc
Calculate the after-tax holding costs for any property.
Research and Insights
View market data, see nearby planning applications and generate a valuation for your property.
