Depreciation Consultants works with property investors and related property professionals, especially accountants, to provide cost effective Depreciation Reports. This allows you to correctly work out how much depreciation you can claim in your tax returns to be able to minimize your tax liability and improve the cash-flow for your investment property. These reports are sometimes referred to generically as “chattel valuations” or “depreciation appraisals”.
Are you missing out on claiming the depreciation allowance available on your rental property and thereby paying too much tax?
Many investment property owners and property related professionals don’t realise that you can claim a depreciation expense in your tax return for “chattels”, some building “fit-out” and some land improvements, that are not considered by IRD part of the “building”.
IRD’s “3-Step Test” clarifies what was part of the building and what is not.
Depreciation is a non-cash allowance for the loss in value caused by wear and tear, age and obsolescence of the chattels and fit-out of your rental property. For every dollar that you claim as a depreciation expense you can save up to 39 cents in tax liability (the amount will depend on your individual marginal tax rate and the effect of ring-fencing rules).
The director of Depreciation Consultants has been involved in the industry for over 18 years. He has personally been involved in the property inspection and production of over 5000 Depreciation Assessments for property investors. We understand the rules and help you claim the correct and maximum depreciation allowance so that you don’t pay more tax than required.
Depreciation Consultants recommend that you use property related advisors that specialise and understand the requirements of property investors.