Leading the way to taxation savings

Jim is an investment property owner. He purchased his first investment property 2 years ago (a house, built in 2008), last year he purchased a brand new medium/high spec home (built 2016) and recently his third property (a unit, built in 2012). So far Jim has seen exceptional return from renting his properties, his Accountant however has now let Jim know his three properties could be saving him money on his tax.

Luckily for Jim, he has been referred to LEAD Consultants, who are Qualified Quantity Surveyors, the only licenced profession able to complete Tax Depreciation Schedules.

Jim is very happy with the service and professionalism of LEAD. He is even more happy when LEAD lets him know that his Tax Depreciation Schedule for his first property (the house) will be backdated to the date of purchase and that Jim (through his Accountant) can amend his previous two years tax returns to include the savings he has previously missed out on*.

Here are Jim's tax savings for these three properties listed above:

2008 House – 3 bedroom, 2 bathroom

$35 per week

Tax saving (per annum) - $1,800

Assumptions:
Approximate taxable % - 30.13%
Jim’s income - $180,000
Depreciation claim (year 1) - $6,000
$200,000 asset value¹

2016 House – 5 bedroom, 3 bathroom

$78 per week

Tax saving (per annum) - $4,060

Assumptions:
Approximate taxable % - 30.13%
Jim’s income - $180,000
Depreciation claim (year 1) - $13,500
$450,000 asset value¹

2012 Unit – 2 bedroom, 2 bathroom

$58 per week

Tax saving (per annum) - $3,010

Assumptions:
Approximate taxable % - 30.13%
Jim’s income - $180,000
Depreciation claim (year 1) - $10,000
$320,000 asset value¹

¹ Estimated value only. The figures contained in the above examples are estimates only based on a typical property and do not represent a particular person or property. These figures should not be relied upon for taxation purpose (or any other purposes) as they have been supplied for marketing example purposes only. LEAD Consultants will not carry any liability for the data above (expressed or implied, included or omitted). Independent legal, financial and taxation advice should be sought before relying on any of the above information.

Are you missing out on lost tax deductions like these?

You could be losing thousands in deductions every year.

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