Investing in property is a great way to build wealth, but many investors overlook one of the most effective ways to maximize returns—depreciation schedules. Understanding tax depreciation schedules can significantly impact your bottom line, allowing you to claim deductions on your property and reduce your taxable income.
What Is a Depreciation Schedule?
A depreciation schedule is a document that outlines the depreciation deductions available for an investment property over time. It provides a detailed breakdown of how the property’s value decreases due to wear and tear and allows investors to claim tax benefits accordingly.
There are two main types of property depreciation:
- Capital Works Depreciation (Division 43) – Covers the structural elements of the building, such as walls, floors, and roofing.
- Plant and Equipment Depreciation (Division 40) – Covers removable assets like carpets, appliances, and air conditioning units.
Having a tax depreciation schedule ensures that investors do not miss out on potential deductions.
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Read More: https://www.quantumqs.com.au/blog/what-is-a-depreciation-schedule-and-why-is-it-important-for-property-investors
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