Master Advocates have partnered with MCG Quantity Surveyors – Tax Depreciation Schedules, Building Construction and Replacement Estimates
Are you maximising your property claims at Tax time?
Plan ahead each financial year!
As your Independent Buyers & Vendors Advocates and Property Management Professionals, we want to ensure you’re maximising your return on your property investment.
Our job is to ensure that throughout your investment journey you’re getting the help you need to achieve your goals. This mean we need to talk about tax depreciation for your property.
Plan ahead for tax time. We wanted to double check you are covered when it comes to claiming your second largest deduction (depreciation) via a Tax Depreciation Schedule. This can help you reduce your taxable income and allow you to pay less tax.
Why is depreciation important? Well, take a client’s average 1st year depreciation deductions of $9,414 as an example. If you are earning $100,000 p.a., these deductions will net you around $3,500 in your back pocket (depending on your marginal rate of tax of course).
What do you actually need to know about depreciation? I will zero in on the ‘need’ part here.
What you need is a quantity surveyor to estimate the potential deductions for your property.
Here at Master Advocates, we have teamed up with MCG Quantity Surveyors. They have been kind enough to look after any of our residential clients at a reduced fee of $600 + GST as opposed to our standard fee of $650 + GST.
If you haven’t already done so, and your property falls into any of the 3 triggers mentioned below, it will be of benefit for you to organise a tax depreciation schedule. This is a once-off property report, it lasts for 40 years, and the report fee is 100% tax deductible!
The 3 Triggers are:
1. The property was purchased brand new
2. The property was constructed after the 16th of September 1987
3. The property does not match either trigger 1 or 2, however it’s had $40,000 or more worth of renovations or improvements completed by you or the previous owners (kitchen, bathroom, extensions etc).
Below is a link to our personalised MCG Application form – built just for clients of Master Advocates! If you want to get the ball rolling with a tax depreciation schedule, please click and complete the relevant information below. The team at MCG will be in contact with you from there.
To order your tax depreciation schedule, please use this link to obtain a reduced fee through MCG Quantity Surveyors –
To learn more about tax depreciation or to receive a complimentary property assessment, please visit www.mcgqs.com.au or call 1300 795 170.
Other than Tax Depreciation Schedules. MCG Quantity Surveyors provide a range of expert services in Australia for both Commercial and Residential property that can benefit and assist property owners. Including Building Construction and Replacement Estimates. This can be a valuable service when planning to build and or renovate or extend a property, planning to buy to knock down and re build and arranging estimates from builders based on endorsed plans and permits and or arranging adequate insurance replacement value cover on established property or new construction. Be informed and prepared.