Rental Property Depreciation

As the owner of a residential investment property, claiming maximum depreciation deductions can make a big difference to your cash flow. Of all the tax deductions available to property investors, depreciation is most often missed as you do not need to spend any money on your property to claim these deductions each financial year.

Research shows that 80% of property investors are failing to take advantage of property depreciation and are missing out on thousands of dollars in their pocket.  Please contact our office if you would like more information.

ATO Big Data – Luxury Assets

The ATO has also given notice that it will acquire details of insurance policies for certain classes of assets, including marine vessels, enthusiast motor vehicles, thoroughbred horses, fine art and aircraft where the value exceeds nominated thresholds for the 2013-14 and 2014-15 financial years.  It would appear that ATO are looking for hidden assets or assets owned by companies that are used personally