Information for Landlords
Information from the Department of Mines, Industry Regulation and Safety
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Centrepoint Realty highly recommend all landlords take out a landlord insurance policy. Not only does this reassure peace of mind on your property but allows a policy that covers you in more ways than you think. From loss of rent on defaulting tenants to court attendance fees and all malicious and accidental damage on your property. You will never know when you need it and for a small annual price you will never have to worry. There are plenty of insurers around the country so shop around and choose the policy that best suits you.
Tax Depreciation on Investment Properties
If you own an Investment Property, you are eligible Under Division 40 & 43 of the Income Tax Assessment Act to claim depreciation on all Items of Eligible Plant contained within the property. Secondly, if constructed after 17 July 1985, a Capital Works Allowance of either 2.5% or 4% is applicable on the historical construction cost, depending on its start date construction commenced.
A Tax Depreciation Schedule will maximise the amount of non-cash deductions you will receive in your Investment Property Tax Return. A Tax Depreciation Schedule differentiates between Eligible Depreciable Plant and Building Capital Works Allowance, and provides a scheduled detailed analysis prepared by a Professional Quantity Surveyor and is sufficient to satisfy strict ATO-Compliant Requirements.
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