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Are depreciation schedules considered a capital expense?

Discussion in 'Accounting & Tax' started by jaybean, 4th Jul, 2015.

  1. jaybean

    jaybean Well-Known Member

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    Or can I claim them as usual?
     
  2. Rixter

    Rixter Well-Known Member

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    Claim them as usual sounds a plan.
     
  3. jaybean

    jaybean Well-Known Member

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    Awesome thanks!
     
  4. MikeLivingTheDream

    MikeLivingTheDream BCOM MCOM MTAX CPA CTA Registered Tax Agent

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    It is accepted that the expense of getting such a valuation qualifies as a tax related expense and is therefore deductible under section 25-5 of the ITAA 1997 which states the you can deduct expenditure you incur to the extent that it is for managing your tax affairs.

    Therefore the expense incurred to have a depreciation schedule prepared by a suitably qualified person is an allowable deduction
     
  5. Gibson

    Gibson Well-Known Member

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    Can anyone recommend a decent provider of depreciation schedules? Thanks in advance
     
  6. D.T.

    D.T. Adelaide Property Manager Business Member

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    Look up @Depreciator
     
  7. Gibson

    Gibson Well-Known Member

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  8. BMT Tax Depreciation

    BMT Tax Depreciation Chris Business Member

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    I'd be happy to provide a quote if you'd like to send me a private message with your property's details!
     
  9. Chilliblue

    Chilliblue Well-Known Member

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    BMT have done our last three and one to come.

    Fantastic service.
     
    Gibson likes this.
  10. Mumbai

    Mumbai Well-Known Member

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    @Depreciator has done all ours and our friends' schedules. Fantastic service is an understatement.
     
  11. Depreciator

    Depreciator Moderator Staff Member

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    Thanks Mumbai. I don't like to overtly tout for business here. I figure if we do the right thing, people will share the word and others will seek us out. Sort of the Field of Dreams approach, 'Build it and they will come.' Such an odd film that one.

    Scott
     
  12. trinity168

    trinity168 Well-Known Member

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    + 1 for Depreciator too.
     
  13. HD_ACE

    HD_ACE Game-Changer Premium Member

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    Bmt..
     
  14. Kael

    Kael Well-Known Member

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    BMT and Depreciator appear to be the best options... Personally, I have used Depreciator and have found them to be great at what they do!
     
  15. DanW

    DanW Well-Known Member

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    @Depreciator, +1

    Just got 2 free report updates, after new capital purchases on 2 properties. Certainly makes tax easier not having to track capital purchases separate to the report.