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Voluminous Depreciation Benefits for V at Clayfield Investors

Did you know your property depreciation report is valid for the life of the building, up to 40 years? Yes, that’s right! You can use the same report to claim depreciation allowances on your taxes, provided there are no changes to the building or the plant and equipment assets included in the report.

Recently, our Property Tax team completed a detailed inspection of the V at Clayfield apartments and found a total of $816,240 in depreciation deductions over the life of the building and its assets. This is a massive saving. Savvy investors can offset rental income and reduce their taxes.  

Our report also provided a detailed annual breakdown of depreciation deductions for our clients, enabling them to claim depreciation of up to $44,000 during the first full year.

Newly developed by DeMartini Fletcher, The V at Clayfield in Brisbane are one of the highest quality luxury apartments, we’ve had the pleasure to work on. This boutique development contains eight, three bedroom units with outdoor entertainment area, plus two car spaces.

Our report provided a detailed analysis of the depreciation deductions for each unit including shared assets. Typical deductions listed in the report are:

  • Air conditioning, ceiling fans
  • Carpets
  • Blinds
  • Stove, oven, range hood
  • Refrigerator, dishwasher, dryer
  • Hot water system
  • Furniture and fittings (eg. barbeque and free standing furniture)
  • Security systems
  • Ventilation fans
  • Lifts
  • Vehicle controls equipment
  • Fire controls and alarms

Accurately assessing each of the value of these assets is what we do best. Our team are highly trained and experienced in applying property tax legislation and reviewing construction costs.

As these apartments were newly constructed, investors can take advantage of depreciation allowances for both Division 40 and 43.  

Remember not all depreciation reports are the same. Only engage qualified and experienced Property Tax Analysts like our NBtax team to inspect and provide a detailed depreciation schedule for your assets. Order you report here.