Maximising Tax Credits

All types of income producing properties have substantial taxation benefits, over and above negative gearing, that the owner is entitled to claim as a tax credit. Any property, which is either rented or used for income producing purposes, is eligible to be depreciated.

In order to maximise the tax benefit a particular property will attract, the owner will require the services of a recognised property tax depreciation expert with specific construction costing skills and experience.

Tax legislation recognises only certain professionals within the construction industry as having the relevant qualifications to estimate the cost of building components for tax depreciation purposes.

The process of maximising a depreciation claim is based on an intimate understanding of the Income Tax Assessment Act, applicable Income Tax Rulings, Case Law and specific construction costing skills. Each property scenario is different and must be analysed by a specialist to optimise the depreciation benefits.