Plant and Equipment Depreciation Rules (residential)

PLANT & EQUIPMENT CLAIMS (POST May 9 2017 Budget Night) There appears to be much misleading information circulating in regards to whether plant and equipment can be claimed on residential properties post-May 9 2017 Budget night. This has substantial negative financial impacts. The general misleading advice includes “no ‘Residential’ second-hand ‘plant & equipment’ can be claimed … Read more

Melbourne Depreciation Schedules

BWK Group provides Melbourne Depreciation Schedules Why choose BWK Group for your Melbourne tax depreciation needs? Which areas in Melbourne and surrounds do you cover?We operate Australia-wide. To date, we have completed depreciation schedules in Melbourne for both residential properties and commercial properties (of varying building types) in the following Melbourne and the surrounding areas:Abbotsford, … Read more

BWK Group Tax Depreciation Case Studies

Newer properties 🏠 Our clients in a townhouse project in Yarraville, VIC received an extra $35,667 because we correctly added the Common areas and lift component ($424,109 in total deductions each). A business owner client received an extra $52,072 on his warehouse because we correctly added the Common area hardstands ($227,034 in total deductions). Another … Read more

Cheap Depreciation reports (Hidden) costs – $121,586

Cheap Depreciation Reports. Are they a good idea? Hopefully, this article will save another property investor $121,586 in property tax depreciation. An existing client wanted a review of some existing depreciation reports completed by another “quantity surveyor firm”. The client placed trust in our service to offer more honest and expert feedback as quantity surveyors, … Read more

How does COVID affect your tax depreciation fulfilment?

The COVID situation has impacted people and businesses greatly. No question… However, ignoring the obvious impact of COVID, you as a property investor have a property investment (that has its own implications but obvious benefits). Benefits that can only be realised and maximised by tax depreciation. The obtaining of a tax depreciation schedule significantly improves … Read more

Investment property renovation tax tips. Write-off tax immediately (Scrapping Schedule)!

Getting rid of something can improve your cash flow…up front (via a scrapping schedule). Renovating an investment property benefits the property investor in many financial ways. Tax benefits and methods include residual value write-off and tax depreciation schedules. Detailed below are tips to minimise tax and improve the cash flow of your property investment. Property investors … Read more

Depreciation Schedule for Rental Property: What You Need to Know

Depreciation schedules for rental properties, why are they so important? If you own a rental property (whether acquired new or second hand from a previous owner), you need to know how to maximise the return on your investment. If you’re like most property owners, you don’t want to pay more than you have to in … Read more

Capital Works Deductions

The term capital works deductions can sound confusing, but they are actually fairly straightforward. Capital works deductions refer to the costs incur…