The Priority Report BMT Tax Depreciation
#18
As a building gets older and items within it wear out, they depreciate in value. The Australian Tax Office (ATO) allows owners of income producing property to claim a tax deduction called depreciation, on a building’s structure and plant and equipment assets contained within it. Claiming depreciation is a significant taxation benefit, and one which many investment property owners are unaware of. Depreciation is a non-cash deduction—you do not need to spend any money to claim it.
86 The Boulevard, Albany Creek—RENTED for $800/w 4 days after going online!
Case Study - Negative Becomes Positive Gearing A unit built in 1970 was purchased for $400,000 one year ago. Annual after tax outlay amounted to $4,882. BMT Tax Depreciation schedule created a deduction of $6,900 in the first year.
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Swimming Pool Safety New Requirements for CPR sign
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Any new CPR signs installed from this point onwards will need to comply with the new regulation “Building (Swimming Pool Safety—CPR Signs) Amendment Regulation 2016” by including information about the procedures for first aid, as well as CPR procedures as mentioned in either of the two approved ways by the Australian Resuscitation Council.
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To transition into the new Regulation—the existing CPR signs must have been compliant immediately before this new Regulation comes into effect, and must be legible to read. Once the sign becomes illegible, it will need to be replaced in accordance with the updated requirements.
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https://www.legislation.qld.gov.au/LEGISLTN/ SLS/2016/16SL192.pdf
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Page 16- December 2016, The Hills Echo
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