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NBtax Tax Bites

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Property Analysts at Work

We’re very proud of our Property Tax team who work diligently to ensure all depreciation reports are accurate and compliant. Recently, Property Analyst Victoria Lyons conducted a property inspection on a newly constructed apartment complex. Victoria takes the time to compile a detailed register of all plant and equipment items, as well as assessing wear and tear. This included white goods such as washing machine and dryer, coffee machine, fridges, carpets, blinds, stove tops, range hoods, and security systems. Outside the property, Victoria inspected the pool and associated equipment including pumps and filter systems that depreciate at varying rates. Outdoor furniture, barbeque, pizza ovens, security lighting and other items are also recorded. Other items such as car stackers, or car parks, storage facilities are inspected and registered. In multi-dwelling complexes, investors can claim a portion of common areas including foyers, gyms, courtyards and lifts, cinemas, solar and recycling systems. Identifying all these items, and determining a value is an essential part of ensuring the depreciation schedule is compliant and delivers the best result for investors.  

Our Property tax team is trained to accurately determine construction costs. They apply their knowledge of tax legislation to ensure investors receive the maximum benefits from depreciation allowances. 

Don’t risk missing out on thousands in tax savings. Ensure your depreciation schedule is compliant and accurate. Use only experienced and Registered Property Tax professionals like our NBtax Property Tax team.