DEPPRO

DEPPRO, the depreciation professionals, is Australia’s leading specialist in depreciation allowances for investment property. Servicing all of Australia’s cities and regions, we focus solely on providing Depreciation Reports for owners of residential, commercial, industrial and leisure properties.

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Tax Depreciation & Property Allowances

Our research shows that only 20% of investors fully utilise and take advantage of the available tax depreciation benefits of their investment property. Every property contains Depreciation and provides substantial tax benefits for all property investors, irrespective of the age of the investment property. It provides cashflow and directly increases returns on a property in the same way as rental income does.

Depreciation is a legislative allowance made by the ATO as a result of the decline in value over the period of time an investment property is used to produce an income.

There are 2 distinct depreciation allowances available for investment properties:

­ Division 40. Depreciable Assets (Plant and Equipment Allowance): eg, carpets, cooktop, ovens and window blinds, etc.

And/Or (where applicable)

­ Division 43. Capital Works Allowance (Building Write-Off Allowance)

Regardless of age, all properties contain some form of claimable depreciation such as the depreciable assets that is re-valued and given a new effective life from the date of settlement. In addition, capital works allowance is available for all residential investment property with a construction start date after 18th July 1985.

As a leading specialist in property depreciation, DEPPRO can provide the astute investor with maximum tax benefits on their investment properties, while complying with the Australian Tax Office (ATO) rulings and keeping abreast with the latest changes.

DEPPRO maintains the highest level of integrity in the preparation of thousands of depreciation reports each year. DEPPRO’s reports are guaranteed and fully complies with the ATO tax requirements for property allowances.

If DEPPRO inspects an investment property and does not assess the depreciation entitlements to an amount at least double our professional fees in the first full financial year, they will refund the professional fee charged and provide the report for free to the investor.
The cost of a Depreciation Report is fully tax deductible and the benefits of the depreciation entitlements far outweigh the cost of the professional fee.

The DEPPRO Report

The 14 page DEPPRO report is based on a physical inspection of the property and contains a 40 year depreciation schedule for Capital Works Allowance and Depreciating Assets. Depreciation Assets are itemised with appropriate costs and depreciation rates. Depreciation is calculated using the Prime Cost or Diminishing Value method.

• Prime Cost is calculated from a percentage of the total value, over it’s life (straight line).
• Diminishing Value is calculated from a percentage of the yearly reduced value.

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TAXESTIMATE - To Estimate your Tax Depreciation Entitlements

TaxEstimate provides an indication of the tax depreciation entitlements and benefits on an investment property. Astute investors, property developers, agents and professionals can use this innovate tool to determine the likely returns and measure the effective cashflow scenario of a potential or existing property investment, before purchasing an investment property and/or engaging a fully detailed and comprehensive tax depreciation schedule.

“TaxEstimate is simple, quick and affordable” and is the most powerful tax tool available to the Astute Property Investor.

TaxEstimate provides depreciation estimates for Capital Works Allowance and Depreciable Assets over 10 years, based on yearly summary, and the total estimated depreciable entitlements and allowance over the lifetime of an investment property.

As the TaxEstimate report is indicative only, it cannot be used for taxation return purposes; you will need to order the full comprehensive and ATO Compliant Depreciation Schedule to legitimately claim your tax depreciation entitlements.

The cost of TaxEstimate is a fully deductible and refundable fee of $45 +GST, if you proceed to commission the full Depreciation Report.

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The TaxEstimate report will be emailed to you in 48 hours.

TAXUPDATE – To Update your old Tax Depreciation Report

On July 2004, the Australian Taxation Office (ATO) introduced a number of changes that affected items previously classified as depreciable assets, which now form part of
Division 43. Capital Works Allowance.

Property investors with tax depreciation reports prepared prior to July 2004 are vulnerable to audits and potential financial penalties by the ATO if they do not comply with these recent changes.

TaxUpdate will provide property investors with the peace of mind of a quick and simple solution to amend their depreciation reports, irrespective of who originally prepared the report, and ensures total compliance with the current and amended ATO tax legislative changes.

An updated Tax Depreciation Report can be completed anytime and the new Tax Depreciation Schedule will be emailed to you in 48 hours.

The cost of TaxUpdate is a fully tax deductible fee of $73 + GST.

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