2 Bedroom Existing Unit
A Case Study of savings from our expertly prepared Depreciation Schedule.
The facts, and figures
Dave purchased this 2-bedroom unit for $605,000 in March 2020.
Dave is receiving $440 per week with a total rental income of $22,880 per annum.
Without a tax depreciation schedule, Dave’s expenses per financial year for the property totalled $34,871.
Dave’s individual tax bracket is 37% .
When the tax depreciation schedule was included, the first full financial year calculations gave Dave an additional $1,860.95 cash back in his tax return.
The outcome
Dave contacted Capital Claims Tax Depreciation who provided a detailed tax depreciation schedule. Dave was entitled to claim in tax depreciation deductions $5,026 in the first full financial year and $25,130 over the first five financial years of ownership of his property. Over the life of the report $184,561.
Also Dave’s property falls under the current legislation where a value is assigned for existing plant and equipment assets – Div 40. This may help to reduce Capital Gains Tax when the property is sold. If Dave sells his property in 10 years, he is entitled to claim $32,336 to help offset his Capital Gains Tax Liability.
Project Data
Client name:
Dave
Asset:
2-bedroom unit
Purchase Price:
$605,000
Year Purchased:
2020
First Year Claim:
$5,026
Claimed over 5yrs:
$25,130
Claimed in total:
$184,561
Get a Free Quote for a Depreciation Schedule.
We’ll include an estimate of your potential deductions, and if we can’t guarantee a strong result, we’ll let you know up front and there will be no cost to you.
