Leading the way to taxation savings

Frequently Asked Questions

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LEAD's research suggests at least 34% of investment property owners do not complete a depreciation schedule.

Do you own an income producing property? For example a rental property, retail shopping centre or a commercial building? Did you know that the ATO allows you to claim deductions against your income producing property just as you would for a business vehicle?

Depreciation is an accounting term which describes the decline in value of an asset over time. A Tax Depreciation Schedule identifies the assets which are depreciable, assigns them a value, and puts them in a format used by Accountants to complete a tax return. These depreciable assets are written off against your taxable income.

Many Australian's do not realise the potential deductions they are missing out on by not claiming depreciation against their property. These deductions are in the form of Division 40 and Division 43 assets, where Division 40 assets could be classed as 'replaceable items' (ie/ ovens, air conditioners, fans, carpet) and Division 43 assets classed as 'fixed items' (ie/ the structure of the house, tiles, handrails, cabinets). The Depreciation Schedule will estimate values for these assets and depreciate them in accordance with the ATO's depreciation guidelines. LEAD Consultants is licenced to assess the depreciable items in your investment property and complete a Tax Depreciation Report (or Schedule), which is used by your accountant at tax time.

For a brand new 2 bedroom unit you could be claiming more than $10,000 worth of depreciation in the first year.

To illustrate the possible Tax Depreciation savings, LEAD Consultants has prepared the below 'real world examples' detailing Jim's potential depreciation claim. Read Jim's story below.

Examples

* Figures 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 purposes as they have been supplied as marketing examples 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.

LEAD Consultants is the right choice for our clients.

  • We can prepare your report for as little as $385 (including GST). Contact us for a quote today.
  • We will guarantee that if the cost of our invoice is more than the depreciation claim, your report will be free!
  • We currently service projects across Australia, this means that our reach will likely extend to your property.
  • Your report is prepared by one of our tertiary qualified, fully licenced Quantity Surveyors.
  • Your report will be delivered within one week of the property inspection.
  • We can liaise directly with your Accountant or Property Manager to streamline the process and save you time.

Completing your tax depreciation schedule takes no more than four simple steps.

Investment property owners can claim depreciation on the property. A depreciation schedule outlines the deductions of the property, which the owner's provide to their accountant at tax time.

STEP 1 - Owner contacts LEAD Consultants

  • Owner's are issued with a simple proposal requesting some basic information.
  • LEAD Consultants issues a No Obligation Free Quote.

STEP 2 - LEAD Consultants completes inspection

  • LEAD Consultants will visit the site and complete a detailed inspection.
  • The purpose of the inspection is to identify Division 40/43 deductions and give them an approximate age and value (if no proof of purchase can be provided)
  • Division 40, simply are non structural / fixed items, for example, ovens, air conditioners or pool equipment.
  • Division 43 are those structural or fixed items, for example, the house framing, roof, slab, plasterboard and doors.

STEP 3 - LEAD Consultants prepares the report

  • The report will be prepared, finalized and issued within 1 week of the site inspection.
  • The report provides the Owner with a 40 year forecast.
  • The report can also be back dated to the date the property became an investment for that Owner.

STEP 4 - The Owner provides the report to their Accountant.

  • The owner significantly reduces their taxable income.

No Obligation Free Quote

If we can't save you money, our service is free

Guaranteed deductions of more than your invoice or the report is free.

How Much Can I Claim?   No Obligation Free Quote

Why Us?

Reports starting for as little as $350 with fixed price quotes provided.
Guaranteed deductions of more than your invoice or the report is free.
Access to local Australian staff and offices.
Professional, experienced and personal provider.
Simple, efficient and no fuss reports delivered within a week.
Direct liason with your Accountant or Agent to streamline the process.