Residential Case Study
4 Bedroom House Built in 1973
Four-bedroom house built in 1973 purchased for $495,000
Nick purchased this four-bedroom house for $495,000 in June 2020
Renovations completed by previous owner in 2014 were kitchen, laundry, bathroom, deck and built-ins
Nick is receiving $420 per week with a total rental income of $21,840 per annum
Without a tax depreciation schedule, Nick’s tax deductible expenses per financial year for the property totalled $32,460
Nick’s tax bracket is 37%
In the first full financial year in 2021 Nick’s after-tax return was $1,075.17. Weekly cash flow back to Nick is $20.67
Nick contacted Capital Claims Tax Depreciation who provided a detailed tax depreciation schedule. Nick was entitled to claim in tax depreciation deductions $2,599 in the first financial year and $12,995 across the first five financial years of ownership of his property.
Also Nick’s property falls under the current legislation where a value is assigned to existing plant and equipment assets – Division 40. This may help reduce Capital Gains Tax when the property is sold. If Nick sells his property in 7 years, he is entitled to claim $17,984 to offset his Capital Gains Tax.
3 simple steps to save you thousands
Order your depreciation schedule
We need some basic information to get started, such as your property address and contact details to arrange access (if necessary). Complete our simple form, or provide some details over the phone and we can make a start on your depreciation schedule today!
We do the work
Our expert team will arrange inspection (if necessary), conduct relevant property searches, estimate construction costs, assign asset values and effective lives, forecast claims over 40 years and deliver your report in a user-friendly format within 10 days* of inspection.
Claim your deductions
Simply take your report along to your accountant, or have us deliver it directly, and start improving your cash flow straight away!
Thousands of happy investors recommend our depreciation services every year!
“I have worked with Capital Claims over the last few years and have at all times found them to be the ultimate professionals. The quality of the reports produced and the speed of service is second to none. I continue to work with his organisation because they offer excellent value for money and exceptional customer service. I would highly recommend anyone considering the preparation of a depreciation report to get in touch with Capital Claims. Salena Kulkarni”
Salena KulkarniPhoenix Wealth Group / Principal
“Capital Claims in Canberra made obtaining a tax depreciation schedule effortless. I did not need to organise anything, and the report was excellent value. I wish I had known earlier what they could do for my investment property!”
Kellin KristoffersonArtisan Law / Director
“Very professional and turnaround time to get the reports have been fantastic - would recommend them to all our clients.”
Gay SpoonerKey Real Estate / Director
“Very friendly, personal service & efficient provision of reports. Definitely 5 stars.”
Maria EdwardsPeter Blackshaw Woden and Weston Creek / Leasing and Business Development Manager
“I have used Capital Claims Tax Depreciation for 2 of my properties. One located in Queanbeyan and the other down the coast. CCTP were able to accommodate both locations. Sean and the team were particularly helpful with our elderly resident at our coastal property showing plenty of patience. The reports were professional,thorough and easy to follow and well worth the cost. If you have an investment property - you need CCTD to keep you up to date.”
Brian HunterDizzy Office Furniture Dexion Canberra / Director
“As an Accountant I found Capital Claims professional, priced well and very efficient. There reports are first class. My client was also happy with the service and report. Michael O'Hehir RSM”
Michael O’HehirRSM / Principal
“White Rhino Property is extremely happy with the continued service that Capital Claims provides us and our clients. We never hesitate to recommend them, as we find Capital Claims to be professional, knowledgeable and efficient. Chelsea van Zyl”
Chelsea van ZylWhite Rhino Property / Director of Property Management
“Here at Sidcor; we have had the pleasure of developing a great working relationship with Mark and the team at Capital Claims, they believe in providing a premium service that benefits both ourselves and our clients. Their knowledge and applied experience has assisted many of our clients improve their after tax position. Whilst we have found the Capital Claims team to have a detailed approach to preparing depreciation reports; we have also found their ability to look at the whole picture allows us to assist our clients with their property portfolios and wealth creation. We have always found their strong focus on delivering upon their promises a valuable asset that aligns seamlessly with our own philosophy of delivering impeccable customer service. As a partner in business, Capital Claims adds an extra dimension to our professional services and as such we can confidently recommend their services to professionals and property investors alike.”
Paul SiderovskiSiDCOR Chartered Accountants / Director
“Mark and the team have outstanding customer service standards and are very responsive on all matters. Importantly, the Capital Claims team have been able to deliver great results for our clients, which makes us look good. We have had numerous occasions where the expertise from Mark and the team has delivered thousands of dollars worth of tax refunds on properties for clients whom had previously been advised there was no point in having a schedule prepared.”
Warwick JacksonBerkmans Chartered Accountants / Director