Tax Depreciation Explaines | Bell Property Depreciation Schedules

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Tax Depreciation Explained

Tax Depreciation is essentially an allowance for wear and tear on an investment property (either commercial or residential) designed to reduce an investor’s taxable income. The federal government introduced these incentives for investors during the 1980’s. Amendments have been made to the allowances over the following years, with the last major change coming into effect after 9 May 2017.

A Tax Depreciation Schedule is split into two sections, or divisions.

Capital works (or Division 43) allowances are structural items that basically make up the bones of the property. These items include building foundations, walls and roof, kitchens, garages, paving and numerous other structural items.

Capital works items depreciate at a flat rate at 2.5% over forty years from the date of completion.

Plant and equipment (or Division 40) allowances include items that can be removed from the property without causing damage. Other plant and equipment items can be summarised as items with motors (or of a mechanical nature). Included in this category are items such as heating, cooling, cooking facilities, floor and window furnishings, hot water services, lifts and swimming pool filtration.

The effective life of these items varies, and therefore the annual depreciation percentage for each item varies.

The team at Bell specialises in recognising any items that can be depreciated and including them in a TDS. We will maximise the possible return on each investment property whilst staying within the ATO guidelines.

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Multi page, easy to read tax depreciation schedule for the life of the property

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Partnering with the team at Bell will enable you to maximise your returns within ATO guidelines.

Bell were a stand out. The customer service was fantastic. They gave me a basic understanding of the schedule and a few options on how to proceed with the report. The price was great and turnaround was even better! Would use again and recommend to anyone. Thank you again!

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