Canberra Depreciation Schedules

BWK Group provides Canberra Depreciation Schedules

Why choose BWK Group for your Canberra tax depreciation needs?

Best if our clients answer that via their provided feedback and reviews, see our feedback and reviews here.

Which areas in Canberra and surrounds do you cover?
We operate Australia-wide.

To date, we have completed depreciation schedules in Canberra for both residential properties and commercial properties (of varying building types) in the following Canberra and the surrounding areas:
Ainslie, Amaroo, Aranda, Banks, Barton, Belconnen, Bonner, Braddon, Bruce, Calwell, Campbell, Charnwood, Chifley, Conder, Cook, Curtin, Deakin, Dickson, Downer, Duffy, Dunlop, Evatt, Fadden, Farrer, Florey, Flynn, Forde, Forrest, Franklin, Garran, Giralang, Gungahlin, Hackett, Harrison, Hawker, Holder, Hughes, Isabella Plains, Kaleen, Kambah, Kingston, Latham, Lyneham, Lyons, Macgregor, Macquarie, Mawson, McKellar, Melba, Mitchell, Monash, Narrabundah, Ngunnawal, Nicholls, O’Connor, Oxley, Page, Palmerston, Pearce, Phillip, Red Hill, Reid, Richardson, Rivett, Scullin, Spence, Stirling, Symonston, Taylor, Theodore, Turner, Wanniassa, Waramanga, Watson, Weetangera, Weston, Woden, Yarralumla.

How much does a depreciation schedule cost (fee)?
It varies depending on quality and undertaking. For instance, having the property physically inspected, onsite (recommended, will cost more).

The ‘cost’ of not having a tax depreciation schedule is substantial in forfeited tax write-offs, improved tax returns in the order of tens of thousands of dollars every year. Refer here for more information.

Is a depreciation schedule worth it?
Absolutely, the fee is 100% tax-deductible, minimal (and a one-off fee) and the ongoing benefits, year-on-year can include thousands of dollars in tax write-offs.

Do I need a depreciation schedule every year?
No, but it depends if the property has been updated and additional information needs to be added to make sure it is current.

How do I set up a depreciation schedule for a rental property?
Make an enquiry and book with a quantity surveying firm that offers a tax depreciation schedule service.

When should I get a depreciation schedule?
In short, whilst it is front of mind and without delay.
As soon as you become a property investor of an income-producing property. It is always best to order your tax depreciation schedule straight away. The ramifications of forgetting may cost the property investor anywhere around $10,000 in forfeited claims.

How do I calculate depreciation on my rental property in Australia?
A property investor will need the services of a quantity surveyor to calculate depreciation on a property. The ATO also has a tax ruling on this TR/97.

How Much Can I Claim/How will a depreciation schedule help me as a property investor?
Hundreds of thousands of dollars in tax write-offs over the effective life of the property. For BWK Group clients, this has also resulted in $10,000 tax refunds, via annual tax return lodgement.

Why should every property investor in Canberra need a depreciation schedule?
Simple. A depreciation schedule or return will save you money as an investor. Our Canberra residential and commercial clients have been benefiting from our depreciation service.

What does a tax depreciation schedules look like?
We are happy to provide samples. Click here to receive and download tax depreciation schedule examples.

How much can I save if I order a depreciation report? Can my accountant prepare my depreciation report?
No. The ATO,(Australian Tax Office) stipulates this in TR/97.

Do you prepare depreciation schedules on commercial properties?

How long will it take for my depreciation schedule to be prepared?
After receipt of the required information and detailed inspection, usually A few business days. We should note that ‘access’ for onsite inspections of properties is out of our control, as this depends on the tenant’s availability.

Our Tax Depreciation information resource may also be of help. Click here.