Tax depreciation Sunshine Coast Quantity Serveryors
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Sunshine Coast Tax Depreciation
ACCORD Quantity Surveyors

Tax Depreciation Schedule Sunshine Coast

It’s easy to think of reality TV as nothing more than meaningless entertainment, but there can be times when there are lessons to be learned. If you are interested in acquiring an investment property, you will quickly learn that there is more to the process than just picking a nice place in a prime location. The tax depreciation schedule Sunshine Coast is going to be something that is important to you as an investor, as it can mean more money in your pocket. The 2016 season of the Channel 9 show “The Block” showed just how important tax depreciation can be.

Beach house Sunshine CoastOn the show, an old factory building in Sydney was purchased by the production company with the idea of turning the building into 5 separate rental units. Each of the apartments was put into the hands of the contestants of the shows so that they could turn it into a viable rental property. As part of the valuation of said properties, a tax depreciation specialist was brought in to see which one has the best 5-year depreciation deduction potential. While all the results were close, the show proved that the tax deprecation schedule is an important part in deciding to choose one investment property over another.

There are sure to be some potential investors out there who are not even aware of what the tax depreciation schedule is, and how big an impact it can have on the location that they choose. Depreciation is a complicated issue, and one that can best be explained by an expert in the industry, but in short, investors get to claim depreciation for materials used in the construction process, as well as appliances and other equipment that is an essential part of any home or business.

Even if investors are aware of the money that they can save via tax depreciation, they are not really in a position to know exactly how much simply by looking at the contents of the building and its construction history. The only way to get a clear picture of what you can expect out of your property in terms of depreciation is to put it in the hands of the professionals. That means calling in a qualified quantity surveyor to go through the property piece by piece. They will be able to establish a clear depreciation schedule that you can absolutely rely on.

The main reason why you need to have a quantity surveyor go over any property is because you could potentially be leaving thousands of dollars on the table every single year. There are certain parts of a building that are obvious when claiming depreciation, but there are plenty more that can be missed by the untrained eye, and that can prove to be costly for those interested in property investment, as there are going to be times when the money earned via tax depreciation may be the difference between a profitable year and one where there is a financial loss.