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9381 2555

Property Tax Deductions

Research tells us that as many as 80% of property investors
over pay their income tax by making incorrect claims!

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Maximising your deductions (i.e. reducing the tax you pay) can be difficult as most claims result from your own expenditure, interest and outgoings.

However if you own an investment property you can claim the cost of the depreciation in value of your fixtures and fittings! In fact, legislation was introduced back in 1985 to enable the depreciation of the construction cost [bricks and mortar] of an income producing building as well. The building must have been constructed after 18th July 1985.

Newer properties will result in a higher claim as the costs of construction are higher. This is all facilitated by using a “Property Depreciation Report” from a licensed provider.

Reputable providers include a guarantee that the tax saving in the first year will pay for the cost of the report! The report is usually good for up to 40 years, so you’ll be able to use it year after year to assist in the preparation of your annual income tax return.

You only need to pay for the report once!

We recommend the services of Depreciator, a national depreciation service.

Click here to request a Tax Depreciation Schedule

If you have any questions call us to discuss

Individual Tax and Accounting Services

  • Income Tax
  • Property Tax Deductions
  • Tax planning

Edwards Irvine & Facius Pty Ltd was established in 1967 by Malcolm Edwards.
Over the years we have grown in size. What began as Malcolm Edwards working from his garage completing tax returns, has grown into a successful tax, accounting and wealth management practice situated in West Leederville.

Liability limited by a scheme approved under Professional Standards Legislation

  • Contact

    128 Northwood Street,
    West Leederville WA 6007

    Phone : +61 [0]8 9381 2555

    Fax : +61 [0]8 9381 7776

    Email : eif@eifca.com.au

    @EdwardsIrvineFacius

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