How Property Tax Depreciation may
increase your weekly income?
We all know, cash is king.
More importantly – MORE cash is king-er.
The beauty about property tax depreciation is that it’s a fixed annual deduction. And with it you can forecast your annual taxable income, and the deductions against it.
The Australian Taxation Office has what’s called PAYG Withholding Variation. Formally known as a FORM 15.
The Commissioner of Taxation may vary the amount a payer is required to withhold from a withholding payment, in order to meet the special circumstances of a particular case or class of cases.
The main purpose of varying your rate or amount of withholding is to ensure that the amounts withheld by your employer during the income year best meets your end of year tax liability.
Knowing your property depreciation, along with other investment expenses allows you or your accountant to calculate and forecast your expected tax deductions allowing you to apply such deductions to your PAYG payments.
In laymen’s terms, this means rather than waiting to the end of the financial year, you can enjoy your tax refund every time you are paid!
Simple. More cash in your pocket now!
You must be careful not to over claim here, so we strongly suggest that you seek specialist and expert advice from an Accountant or Financial Advisor on what is the best option for you.
To find out how much you might get click here.
To find out more about the Australian Tax Office PAYG withholding variation please click here.
To learn more about how Property Tax Depreciation works, and what exactly is involved.
Let the market leaders help you claim up to 20% depreciation on your asset purchases, property improvements and more.