Yes!The answer is yes it is tax deductible.
As you are having a professional quantity surveyor calculate the asset or liability value of items associated with your investment property, this is something you can list as a cost in your end of year tax return. This makes the cost of the depreciation report well worth it as it can sometimes be fully paid off in the first tax year via your tax saving because of the deductions you are claiming. Every year after that then becomes a potential increase in your cash flow through more tax deductibles. Its essential to have all your deductibles listed so you are maximising the advantages if you have a negative geared property. There are tax benefits of negative gearing so you may as well use them
As you are having a professional quantity surveyor calculate the asset or liability value of items associated with your investment property, this is something you can list as a cost in your end of year tax return. This makes the cost of the depreciation report well worth it as it can sometimes be fully paid off in the first tax year via your tax saving because of the deductions you are claiming. Every year after that then becomes a potential increase in your cash flow through more tax deductibles. Its essential to have all your deductibles listed so you are maximising the advantages if you have a negative geared property. There are tax benefits of negative gearing so you may as well use them
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