Reduce your taxes and offset rental income ORDER NOW

NBtax Tax Bites

image description

Investors of The Tempest Gain Tantalising Depreciation Tax Benefits

While not everyone will consider depreciation tax benefits as a major reason for choosing one investment property over another, savvy investors will look at the big picture and find the tax benefits very tantalising. 

Did you know, you can offset rental income, manage cash flow, and save thousands of dollars in tax through depreciation allowances? The long-term benefits for investors are substantial, especially for newly constructed properties like the Tempest Apartments. 

Located in Miranda, in New South Wales, the Tempest Apartments are one of the Sutherland Shire’s premier luxury built residential complexes, and an excellent example of the value of depreciation allowances for investors. 

Working on behalf of our property clients, our highly experienced and qualified team of Property Tax Analysts and Quantity Surveyors calculated over $21,000 in depreciation deductions for the first full financial year. 

Over the next 40 years, our clients could claim depreciation deductions totaling up to $375,000 for both the building and the assets (Division 43 and Division 40).

The apartments feature modern design elements with quality finishes and high-end appliances, delivering substantial tax depreciation benefits. 

Our comprehensive and accurate depreciation report lists depreciation value for the building, plus plant and equipment assets including: 

  • Stainless-steel Miele appliances, (dishwasher, rangehood, oven and stove)
  • Internal laundry facilities with dryer
  • Ducted air conditioning
  • Blinds
  • Carpets
  • Floating timber floor coverings
  • Hot water system

Further depreciation deductions resulting from the shared amenities are available including a resort style rooftop area with BBQ, dining facilities with designer furniture. Investors can claim a share of additional assets to increase their tax benefits such as:

  • Lift
  • Single auto garage
  • Fire control and alarms system
  • Solar powered generating systems assets
  • Ventilation fans 
  • CCTV cameras and monitors

We highly recommend property investors factor in how much they can gain in tax savings through depreciation allowances when they consider purchasing an investment property.

Check out our online depreciation calculator for a general assessment of typical deductions.