Entries by admin

How is Depreciation Applied Following Natural Disasters?

Irrespective of the country you are in, you would often hear of the havoc that natural disasters can cause. Whether it’s the bushfires in NSW or Queensland, or the Victorian floods this year, natural disasters happen with frightening regularity. While the loss of human life in such disasters is an irreparable loss, there are other […]

4 Tax Deductions Everyone Should Know While Investing in Property

Many people lack awareness about one of the most profitable tax deductions investors use to make a purchase economical. Interest has emerged as one of the major expenses of buying an investment property. And, a large number of people are not aware that mortgage interest payments on an investment property is tax-deductible. For the benefit […]

How Much of Your Investment Property Costs Can Be Claimed on Tax?

Owning a property, while a good investment, can also be heavy on the taxes. However, only a few people know that much of it can be claimed as tax-deductible or as depreciated items. But how much and what exactly can be claimed on tax? Let’s take a better look. Knowing the Typical Tax Deductions To begin with, […]

Can Depreciation on My Rental Property Be Back-Claimed?

Several property investors are not fully aware of the tax benefits they can claim from their rental property. As per ATO rules, a certified quantity surveyor can help such investors reduce their tax burden. This is on account of the depreciation on their property every year. A quantity surveyor can help them make a detailed […]

The Magic of Depreciation for Investors

Novice investors have a simplistic view of making legitimate money from their investments. They look towards buying at lower prices and selling at higher prices. The difference between a buying and selling price is the profit, as any school mathematics textbook will tell you. This is the simplest way of making money from investments, for […]

Ways to Cut Your Tax Bills through Depreciation

You must know that the more you use an item, the lower it becomes in value. You have probably realised, that when you try to sell your used car after one year, you would get a lower value even if it was in very good condition. This universal accounting is called depreciation. In case you […]

10 Commonly Overlooked ATO Tax Deductions

Taxes are especially painful to small and medium sized enterprise owners. Neither do they have the scale of a large company nor the agility of a startup. But the tax rules are equally applicable to such business owners. This is the reason such business owners often fret about their tax burden. If you are one […]

What Are the Different Ways to Calculate Depreciation?

For a company that owns assets, the annual asset reduction is reflected in its financial statements like the balance sheets and the tax depreciation reports. There are different ways in which the value of depreciation is calculated. This depends on the country or region, of course and the calculation method could depend on the type […]

Why You Need a Depreciation Schedule for Your Investment Property

Savvy investors, nowadays, indulge in property investment with the prospect of re-selling the property at higher prices. While this investment decision is highly fruitful, a little know-how of the field can help in making the most of the opportunity. Depreciation on property is one such aspect that has to be taken into consideration. With the […]