COMMERCIAL PROPERTY OWNERS juggle so things every day … from negotiations with potential tenants to tracking income and expenses.
BMT’s free,easy-to-use MyBMT portal is something every commercial property owner should have in their tool kit – because it allows them to manage their investment and depreciation needs with ease. [Read more…]
PROPERTY DEPRECIATION is one of the most reliable sources of bonus cash flow – for both commercial property owners and businesses. And site inspections are an essential step to claiming the most depreciation possible.
When Site Inspectors from a specialist quantity surveying firm physically survey your property, they know what to look for. They ensure nothing is missed and total compliance is maintained. [Read more…]
UNDERSTANDING TAX DEPRECIATION lingo can sometimes be confusing – but as an investor, it’s important that you have a good understanding of the depreciation deductions you can claim.
This will ensure you’re getting the most out of your investment property. [Read more…]
WITH THE RIGHT ADVICE you can achieve thousands of dollars in depreciation deductions on commercial property fit-outs. No matter what the industry you are in, claiming depreciation will help maximise your cash flow. [Read more…]
UNDERSTANDING tax depreciation lingo can sometimes be confusing but as an investor, it’s important that you have a good understanding of the depreciation deductions you’re entitled to claim – to ensure you’re getting the most out of your investment property.
As outlined by the Australian Taxation Office there are two categories that comprise depreciation deductions – division 43 capital works deductions and division 40 plant and equipment depreciation. [Read more…]
AMID THE COVID-19 pandemic, the government has announced several stimulus packages to help Australian businesses. If you’re a business or property owner, here is what you need to know.
More business owners will be able to claim the instant asset write-off this financial year. The government announced an increase of the instant asset write-off threshold from $30,000 to $150,000.
The increase has also been extended to include business with an aggregated annual turnover of up to $500 million.
The instant asset write-off expansion is now in place and will be until 30 June 2020.
This fifteen-month incentive will support business investment by accelerating depreciation deductions for remaining assets not affected by the immediate write-off changes.
Different rules apply to whether an entity is using the simplified rules of capital allowances for small businesses.
Small businesses with an aggregated turnover of up to $10 million can take advantage of the Backing Business Investment incentive. They can deduct 57.5% of the asset cost in the year of purchase.
In later years, the asset will be depreciated as part of the general small business pool rules.
Businesses with an annual turnover of up to $500 million will be able to deduct fifty per cent of the asset cost, plus an additional amount of the standard depreciation on the remaining balance, in the year of purchase.
It’s important to note that both the instant asset write-off and backing business investment incentives are only available to business owners. This means landlords who own a commercial building (but do not use the building for business operations) cannot claim the incentives.
As you’d be aware, the government has also announced a mandatory code of conduct for commercial tenancies.
This mandatory code introduced a number of good-faith principles to guide negotiations between tenants and landlords, where a tenant has been affected by COVID-19.
Some inclusions involve rental waivers, deferrals and disallowing lease terminations. And you can find out more about the principles here.
AS TAX TIME APPROACHES, you need to understand the depreciation allowances available to owners and tenants of commercial property.
There are many rules which apply and the difference in depreciation found can vary depending on the industry, assets and property.
By becoming more aware of commercial depreciation, property owners (and tenants) can make more informed financial decisions and improve their cash flow and their “bottom line”. [Read more…]
EVERY COMMERCIAL PROPERTY INVESTOR can reduce their tax liabilities by claiming depreciation. When claimed correctly, depreciation deductions can transform a negative cash flow investment into a positive one.
BEFORE PURCHASING a commercial investment property, you should first crunch the numbers. That’s because the property will provide an even better return, once depreciation is claimed.
Savvy investors will usually consider the potential return of the property, the surrounding commercial infrastructure, along with the vacancy rates in the immediate area. [Read more…]
GETTING YOUR TAX IN ORDER can be an overwhelming task. But when you have a commercial investment property, it can seem even more complex.
We’ve compiled a list of the most commonly asked questions to highlight just how depreciation can help maximise your cash return on a commercial property. [Read more…]
CHOOSING WHETHER to rent or buy commercial property can often be a difficult decision. To help you make the right choice, here are some key considerations. [Read more…]
