A Case Study of savings from our expertly prepared Depreciation Schedule.
Our client Phil purchased a property zoned mixed-use for $395,000 in 2020. It is comprised of two distinct areas – a residential house that is rented separately to the commercial space. There has been a small amount of renovation to both.
The commercial space (a hairdresser) own all their fit out and the house is unfurnished.
Phil spent approximately $30,000 in basic upgrades to the house.
Phil engaged Capital Claims Tax Depreciation to prepare a tax depreciation schedule. In the first year Phil claimed $8,500. Over the first full five financial years Phil claimed $30,760 in tax depreciation deductions. Total tax depreciation claimed for life of report $70,600.
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.