Happy Birthday to our beautiful sweet girl Lily. We love you so much, may your birthday be brimming with laughter, love, and unforgettable moments. Happy Birthday sweet girl. Cheers to you, on your special day!
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Happy Birthday Lilly the best skier in the family.
This is where property tax depreciation becomes tricky. There are certain articles of plant and equipment that can be deducted at an increased rate compared to the building itself. Basically our property tax depreciation schedules are split into two sections:
Capital Works Allowance: Capital works are those building elements that are integral to the building structure i.e. walls, floors, roofs etc. Residential investment properties constructed after 19th July 1985 are eligible to claim 2.5% or 4% of the original construction cost depending on the date the property was constructed.
The ATO stipulates that "an appropriately qualified person" (TR 97/25) must be engaged to calculate original building costs if accurate original costs are unavailable.
As qualified Quantity Surveyors, Walton Smith Consultants are appropriately qualified as outlined by the ATO to compile property tax depreciation schedules.
Valuers, Accountants and Real Estate Agents are generally not appropriately qualified.
Decline in Value of Plant and Equipment: Articles of plant and equipment can be deducted at an increased rate compared to the capital works allowance. There are many items identified by the ATO which can be categorised as plant and equipment. For example: carpet, curtains, white goods, air-con etc are all considered to be plant and equipment (NB: this list is not exhaustive).
Walton Smith Consultants have an intimate knowledge of what is and is not considered to be plant and equipment. This is particularly important now that the ATO is cracking down on illegitimate claims.
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Ensuring you never miss a beat: Walton Smith Consultants, your trusted partners, have their offices situated at 3/12 Blueridge Dr, Dubbo NSW 2830. Feel free to reach out or drop by for expert guidance and consultancy. 📍 #waltonsmith #Consultants
www.wsconsult.com.au/
#waltonsmithconsultants #dubbo #orange #centralwest #depreciation #cashflow #investing #TAX #property #investment #realestate #business #accounting #assets #accounts #entrepreneur #appreciation #commerce #taxes #inflation #money #investor #realestateinvesting #learnfromhome #AssetManagement
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Ask us about Tax Depreciation Schedules. We are here to help.
wsconsult.com.au
#waltonsmithconsultants #dubbo #orange #centralwest #depreciation #cashflow #investing #TAX #property #investment #realestate #business #accounting #assets #accounts #entrepreneur #appreciation #commerce #taxes #inflation #money #investor #realestateinvestingadvice
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Walton Smith Consultants provide expert Witness services to solicitors, builders, home owners, sub-contractors or suppliers that have a problem or defect within a building or property and require support in litigation to substantiate that claim.
We have an in-depth knowledge of the building industry, regulations, Codes and building requirements. This knowledge coupled with years of industry experience allows Walton Smith Consultants to provide expert witness advice over a wide variety of construction projects utilising different construction methods and technologies.
wsconsult.com.au
#waltonsmithconsultants #dubbo #orange #centralwest #depreciation #cashflow #investing #TAX #property #investment #realestate #business #accounting #assets #accounts #entrepreneur #appreciation #commerce #taxes #inflation #money #investor #realestateinvesting #learnfromhomefornow
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