Is a tax depreciation schedule worth it for your rental property?
Not all properties are created equal.
Newer properties often offer higher tax deductions from depreciation compared to older ones. However, even if your rental property is older, it’s still worth consulting a quantity surveyor specialist like BMT to assess its potential.
Additionally, if you’ve recently completed major renovations on your rental property, a depreciation schedule can be particularly valuable.
The fee payable to a licenced quantity surveyor specialist for preparing the tax depreciation is tax deductible too.
If you’re keen to explore changing accountants, we have a non-obligation process to do that. The first step is booking a strategy call with one of our accounting team. It’s a free 20-minute zoom or phone call where you get to meet us to manage your questions.
From that point, you can consider doing a “Look Under The Hood” with us. There is no obligation to change accountants, but we give you a second opinion if you’re paying too much tax.
Throughout that process, we can identify any problems we see with your current setup. Anything that your current accountant hasn’t claimed, or tax you may have overpaid, and strategies of how we might fix that going forward. We can run through with you once you book with us.
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