So, “investors could claim an average of over $2.2 million in depreciation deductions for each apartment on Channel 9’s 2016 season of The Block,” according to new analysis reported by The Urban Developer.
By far the biggest potential depreciation winners are Kim and Chris (pocketing $87,470 in their first year) followed by Ben and Andy ($85, 718). More interesting is the total depreciation figures for Kim and Chris ($2,124,227) followed by ben and Andy ($2,401,413).
Legally speaking, any owner of an income-producing property is allowed to access depreciation deductions. It covers (among other things) wear and tear, structure and even assets such as ovens.
“Any property investor who doesn’t claim the maximum depreciation deductions available could be missing out on thousands of dollars in tax savings every year,” asserts one expert.
You can find out more about depreciation schedules by contacting. Jim’s Building Inspections.
Image Source: https://theurbandeveloper.com/articles/experts-reveal-nines-block-depreciation-schedules