Strata unit property owners are entitled to claim depreciation on ‘common areas’ and ‘common plant’.
Immediate deductions are available for items costing $300 or less.
A tax depreciation report is tax deductible and should be updated to include renovations, alterations and additions to plant and equipment.
80% of investors overpay their income tax!
Renovations, extensions, repairs, and write-off of demolished works can provide additional opportunities for the investor to increase the deductions and return on their property.
Property tax allowances are a valuable aspect of any property investment due to their ability to enhance an investor’s return and produce a healthier cash flow, by correctly claiming and maximising the available deductions.
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