In this month’s QS corner: The stars have aligned for property investors..
The Negative Gearing debate seems to be buried, for now at least.
APRA has relaxed the lending criteria that banks use to assess loan applications
The RBA has recently further reduced interest rates.
So, if you are thinking of investing, - I thought I would share some numbers to clarify that claiming depreciation is still well and truly, a smart move.
Whilst the below figures are estimates, they are based on the average of actual reports we’ve completed. Of course, the figures will vary subject to the specific property that you purchase.
If you buy a property built between the years 1987 and 2000, you may still be able claim roughly $4,000 in deductions per annum or close to $40,000 over the first 10 years.
If you buy a property built between the years 2000 and 2018, it's likely you’ll be able to claim around $6,500 per annum or close to $65,000 over the first 10 years.
If you buy a brand new property, you may be entitled to claim approximately $16,000 in year one and close to $100,000 over the first 10 years.
Investing in a depreciation schedule is a worthwhile investment.
Tyron Hyde is the CEO of Washington Brown and is considered one of Australia’s leading experts in property tax depreciation. He is also a registered tax agent. Washington Brown manages construction costs worth over $2 billion and completes 10,000 schedules annually. For a depreciation schedule quote CLICK HERE and follow the 3 simple steps or estimate your depreciation cost.
The Washington Brown Free Depreciation Calculator will give you an estimate of the depreciation deductions you could claim on your investment property
Read more Expert Advice articles by Tyron
Disclaimer: while due care is taken, the viewpoints expressed by contributors do not necessarily reflect the opinions of Your Investment Property.