Splitting Tax Depreciation amongst multiple owners can improve your bottom line
One of the lesser known benefits of being a joint owner of an investment property is that the depreciation claims can be higher overall when […]
Residential tax Depreciation Slashed by Federal Government Legislation 2017
The federal government changes to the depreciation of plant which were proposed in the May budget were passed by the senate on 15th November 2017.
A number of property investors have contacted Abbcon Associates as experts in preparation of Tax Depreciation Schedules, to discuss how these changes may affect them.
The good news for investors is that residential properties purchased ( contracts exchanged) prior to 7:30pm on 9th May 2017 are unaffected by the changes, as the prior legislation has been grandfathered.
What does it mean and what is the difference?
To put it simply, the Prime Cost method gives you equal deductions each year for the effective life of the article.
Whereas the Diminishing Value method gives higher […]