Depreciation Allowances delivers tax bonanza for Investors of Azure’s Keona Apartments
Investors of Azure’s Keona Edition residential apartments are set to receive thousands in tax savings this financial year. Azure’s property clients have received depreciation reports prepared by NBtax by Napier & Blakeley delivering up to $18,000 in capital allowances for the first year.
This is a substantial windfall for Azure’s clients. Now they can use our depreciation schedules to offset rental income and reduce their taxes. Plus they can manage their cash flow in the future as well.
The Keona development features 27 elegant and liveable terrace homes with three or four bedrooms, and private landscaped gardens with alfresco entertaining zones.
Inspecting this stunning residential development was a pleasure for our Property tax team in Brisbane. With a keen eye for detail and knowledge of construction our team prepared comprehensive reports delivering significant saving for investors.
The depreciation values of the properties are calculated on the exact construction costs for the building and installation of assets. It’s imperative these figures are accurately represented, rather than incorrectly inflated to ensure the depreciation reports are compliant with the ATO’s requirements.
Each report contains a detailed list of depreciating assets. The Keona development included a multitude of assets eligible for depreciation including; air conditioning, carpets, hot water installations, dishwashers, ovens, exhaust fans and rangehood, ventilation and ceiling fans, blinds, hot water installations, carpets, floating timber floor coverings, furniture and fittings, plus garage door motors, fire control and alarms.
We’re extremely proud to be part of this stunning development combining functionality with contemporary architectural design promoting livability. Most of all, we’re proud to have helped clients gain a better return on their property investment through depreciation.