Quality depreciation schedules will include, all constructions costs and assets, including previous renovations (whether completed by yourself or a past owner), as well as claim more aggressively, for low cost and low value assets.
There are differences between the standard inclusions of a
cheap depreciation schedule and a more expensive one.
A Capital Claims Tax
Depreciation Schedule has all of the
inclusions that can help you to maximise deductions such as:
·
Individually itemised
asset values;
·
Identification and
separation of staged capital works and improvements;
·
40 years of forcasted
deductions;
·
Reporting of both
diminishing value and prime-cost methods of depreciation, as well as graphing
of the results for easy comparison;
·
Pooling of low-cost and
low-value assets to speed up depreciation claims in the earlier years;
·
Inclusion of immediate
write-off assets;
·
Scrapping/disposal of
assets where applicable;
·
Itemised depreciation of
Division 40 assets for application against CGT at sale.
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Marlene Liontis
Thursday, 19 March 2020
