Author: BMT Tax Depreciation

Starting a new business can be quite daunting, particularly if you’re trying to do so within a strict budget. On top of other initial start-up costs such as purchasing stock or merchandise, arranging insurance, budgeting for staff overheads and (if you don’t own the building) allocating...

What to know if you are thinking of selling a property Before an owner decides to sell their property, they need to be aware of the Capital Gains Tax (CGT) implications that may apply. Surprisingly, many owners are exempt from CGT but are unaware of their...

Depreciation schedules should be arranged before and after any renovation All too often we see investors contacting specialist Quantity Surveyors to organise a depreciation schedule after they have completed renovations to an investment property. In most instances this is too late for the investor to claim...

The costs involved in starting any new business can be quite expensive. There are expenses for stock and merchandise, insurance, staff overheads and (if you don’t own the building) funds required to cover rent. Whether you own or rent the building, there may also be costs...

  As October 31st fast approaches, many property investors who submit their own income tax assessment online could potentially miss out on thousands of dollars in unclaimed deductions. Since the 1986-1987 financial year, Australia has operated a system of self-assessment of income tax. As a consequence a significant...

It is estimated that close to one million businesses in Australia are home based and this sector is considered to be one of the fastest growing business sectors. For those who choose to operate a business from home there are many benefits including a better work-life...

Learn how the experts maximise deductions Many investors ask the question, ‘Why can’t I just do it myself or ask my Accountant to claim depreciation deductions on my investment property?’ The answer is simple. Quantity Surveyors who specialise in depreciation have the recognised qualifications, skills and specialist...

  With the winter season upon us, a number of property investors may be thinking of doing nothing more than curling up under a rug in front of a wood fire with a good cup of coffee. While this might sound tempting, it’s also tax season and...

A large number of property investor’s complete additions or alterations to their investment property each year, yet many of these investors are unaware of how these renovations will affect the deductions they can claim. As a building gets older, items wear out – they depreciate. The...

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