SMART COMMERCIAL PROPERTY OWNERS, commercial property tenants and business owners want to improve their cash flow.
Claiming depreciation can reduce the tax paid for any commercial property at tax time.
BMT Tax Depreciation provide three valuable apps that every business or commercial property owner should be aware of. Let’s take a look at how these apps can help you.
The BMT Tax Depreciation Calculator
This app is really handy when you are looking to purchase any new property, whether it’s a commercial office, an industrial building, a warehouse used for manufacturing or a residential investment property.
The BMT Tax Depreciation Calculator allows investors to get a quick depreciation estimate of the deductions that will become available for any property once it becomes income producing.
To use the calculator, investor’s only need to have some basic information about the property.
The information needed includes the property type, the construction type, quality of the finish, the floor area of the property in square metres, the estimated year of construction, when the property was purchased and the nearest major city.
Once the calculate button has been selected, the calculator will provide investors with an estimate of the minimum and maximum deductions they can claim for the first five years of owning the property.
To download the app for iPhone or Android devices, click here.
BMT Rate Finder
Rate finder is a free app which will assist in finding the effective life of any depreciable asset found within an investment property.
Commercial property owners can search by industry type to find the assets their business can claim depreciation for.
They can also search by asset name to find out the specific effective life of an individual asset.
This information can be quite useful, as business owners can work out when the best time to replace an existing asset.
It can also be helpful for the tenant of a commercial property to find out the effective life of any fit-out classified as a depreciable asset installed in a property during their lease.
And it is also be a handy tool for Accountants to use when performing their client’s annual income tax assessment at tax time.
To download the app for iPhone or Android devices, click here.
BMT Construction Cost Calculator
If you’re planning on building a new property, the BMT Construction Cost Calculator will help you to estimate the construction costs involved in any building project.
By answering a few short questions, such as the property type, location, the estimated year of construction, the quality of the finish and the construction area.
After this, the calculator will provide you the minimum and maximum cost results for the property.
The Construction Cost Calculator is a really handy tool for developers, builders or property investors for project feasibility.
To download the app for iPhone or Android devices, click here.
Bottom Line: If you would like to learn more about the depreciation deductions available on any commercial or residential property, speak with one of the expert staff at BMT Tax Depreciation on 1300 728 726.
