Tyron is director of Washington Brown and has over 20 years’ experience in the construction and development industry. Considered one of Australia’s leading experts in property tax depreciation, Tyron regularly presents at industry conferences and events and has published numerous articles on tax depreciation and property investment. Tyron has a Bachelor in Construction Economics from University of Technology Sydney.
Tyron is also the only published author on the topic of property depreciation with his books CLAIM IT! and CLAIM IT AGAIN! A Property Investors and Developers’ guide to depreciation. Click here to access the Washington Brown website.
Understanding the tax depreciation of commercial investment property
The Australian Taxation Office (ATO) is ramping up client compliance by monitoring property investors who have purchased an investment property this year.
In their latest announcement the ATO announced they will be using data matching techniques to target property investors.
From my experience the ATO tends to target the following areas:
There are two sides to the property depreciation puzzle. As an investor you're entitled to claim depreciation on the wear and tear of particular items (such as ovens, blinds, carpets etc) along with the construction cost of the building itself - provided building commenced after July 1985