Sad fact: Many Australian rental property owners are failing to correctly calculate depreciation.
“I have often seen clients who have owned investment properties for five, six or seven years and have never claimed any form of depreciation because they weren’t aware what it was,” explains one expert in the field to News Corp. “That’s the benefit of getting advice — you often don’t know what you don’t know.”
That’s huge. Yet so many rental property owners seem blissfully unware of all these potential money-saving avenues.
It’s an important discussion to have with your loved ones and/or business partners but also an expert which is where Jim’s Building Inspections comes in.
It’s amazing how knowledge can save us thousands. Just picking up a phone and calling an expert can make the difference between a good financial year and a bad one.
Not everyone has the time to be on top of every law and tax deduction relating to depreciation. But then again that’s why we have experts working for us.