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- Strata unit property owners are entitled to claim depreciation on ‘common areas’ and ‘common plant’.
- Immediate deductions are available for items costing $300 or less.
- A tax depreciation report is tax deductible and should be updated to include renovations, alterations and additions to plant and equipment.
- 80% of investors overpay their income tax!
- Renovations, extensions, repairs, and write-off of demolished works can provide additional opportunities for the investor to increase the deductions and return on their property.
- Property tax allowances are a valuable aspect of any property investment due to their ability to enhance an investor’s return and produce a healthier cash flow, by correctly claiming and maximising the available deductions.