Tax Depreciation | 3 min read
Is a tax depreciation report tax deductible?
Property investors often ask whether the cost of the depreciation schedule itself can be claimed. In many investment property situations, the report fee may be treated as a deductible expense.
Why the report fee matters
A depreciation schedule is prepared to help identify deductible depreciation claims for an income-producing property.
Because the report relates to tax and investment property record keeping, many investors discuss claiming the report cost with their accountant.
Confirm your own tax position
Tax treatment can depend on your ownership structure, property use and timing. Your accountant should confirm how the report fee is handled in your return.
The schedule can still provide value beyond the fee because it supports eligible depreciation claims across future years.
Keep the report with your tax records
Once complete, keep the depreciation schedule and invoice with your investment property records.
If requested, BWK Group can provide the report in an accountant-ready format.
FAQs
Common questions
Should I ask my accountant before ordering?
Yes, especially if your structure is unusual. Many accountants also encourage investors to obtain a schedule where eligible deductions may exist.
Does the schedule need to be redone every year?
Usually no. A schedule is commonly prepared once and used across multiple years unless property circumstances change.