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How to save thousands by getting a depreciation schedule

Get the Most Out of Your Tax Refund

As the fiscal year comes to an end, it’s a good time to organise your Depreciation Schedule to maximise the return on your investment property. If you’d like to learn more about lodgement deadlines and concessions, please visit the ATO’s website.

Here’s how you can maximise your return

Our team of building inspectors at Landmark Building Inspections Melbourne can make depreciation planning easier than ever. All of our building inspectors are licensed contractors with a minimum of 15 years of experience servicing the Melbourne, Victoria area.

If you own an investment property, obtaining a Depreciation Schedule is one of the most effective strategies to increase the amount you can claim on your tax return. It only takes our expert staff an average of 30 minutes to complete the inspection for your Depreciation Schedule. Depending on your situation, you could be eligible for thousands of dollars in tax refunds.

In this economy, making the most out of your hard-earned investment is always a smart choice. Let’s take a closer look at what Depreciation Schedules are and how they work.

What is a depreciation schedule and how do they work?

A Depreciation Schedule is akin to a building report for your investment property. It takes into account all of your home’s many components and predicts how much their worth will depreciate over time.

Our schedules can be backdated up to 40 years, so you may be able to claim for years you missed. Not only that, but if you qualify, the cost of the schedules will be fully tax-deductible.

The three key areas in the Depreciation Schedule are Capital Works, Plant & Equipment, and Capital Improvements.

Capital works (or building allowance)

This consists primarily of fixtures and fittings, such as:

  • Kitchen cabinets
  • Windows
  • Doors
  • Locks
  • Sinks
  • Bath
  • Swimming pool

These normally account for about 90% of your overall claim.

Plant and equipment

This category consists of items that can be removed from the building. Common examples include carpets, air conditioners, blinds, hot water systems, ceiling fans, and smoke alarms.

Capital improvements

This category refers to any upgrades or modifications made to a property and covers both Plant and Equipment and Building Allowance items.

The Depreciation Schedule will detail the depreciation rates for each of the items listed above. If you’re in the Melbourne, Victoria area and want to get started on scheduling your inspection, contact our Landmark Building Inspections Melbourne staff right away.

Book your Depreciation Schedule today!

Why choose landmark building inspections melbourne

Getting a professional quality Depreciation Schedule will almost certainly save you money. However, with so many options available, selecting the right building and property inspection company can be difficult. The competition is as tough as it has ever been, and every company is making the same outrageous claims to earn your business.

When you work with Landmark Building Inspections Melbourne, you’re working with one of the most trusted professional teams of building inspectors in the Melbourne, Victoria area. Our professionals have over 15 years of professional training and experience.

We understand the financial implications of a professional-grade Depreciation Schedule. You can count on us to cross all of the t’s and dot all of the i’s to ensure that nothing is missed.

If you are eligible to make a claim, we believe your claim will be at least twice the cost of the Depreciation Schedule that you pay to us in the first year that you claim depreciation on your investment property from the ATO. If not, we’ll refund your money*. You have nothing to lose and everything to gain.

Prepare for EOFY by obtaining your Depreciation Schedule today. Book your appointment with us today! Do you have any further questions or would like to speak with someone? Please contact a member of our team. We’d be delighted to assist.

* Valid for the first full fiscal year. Offer not valid for properties purchased after May 9, 2017. The amount refunded is limited to the cost of preparing the Depreciation Schedule.

Our knowledgeable staff is accessible seven days a week to give you all of the information you require to make an educated decision. Please contact us at 03 9859 7043 if you would like to book an inspection or simply have a few inquiries.

We offer a wide range of services and inspect hundreds of houses each year. You can rely on our services whether you require a building inspection in Victoria, a pre-purchase pest and building inspection in Melbourne, or anything in between.

Landmark Building Inspections Melbourne is here to help you!