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Depreciation Schedules
What is a Depreciation Schedule?
A depreciation schedule from TrueNorth is a comprehensive report that outlines the tax deductions you’re entitled to based on your property’s depreciation. Your accountant will use our detailed schedule to ensure you’re claiming the maximum amount each year.
The report covers:
- Building Depreciation: Generally calculated at 2.5% per year over 40 years for the structural building.
- Asset Depreciation: Faster depreciation rates applied to assets like carpets, appliances, and fixtures.
A TrueNorth depreciation schedule can typically be used for up to 20 years or more, depending on changes to the property.
Why do you need a Tax Depreciation Schedule?
If you have an investment property, a depreciation schedule from TrueNorth is essential. Stop missing out on valuable tax deductions today.
Why choose a TrueNorth schedule?
- Maximise Tax Deductions: Claim for the building structure and assets (carpets, appliances, etc.).
- Save Money: Lower your taxable income and increase your net returns.
- Cashflow Boost: Yearly deductions improve your immediate cash flow.
- ATO Compliant: TrueNorth guarantees your schedule adheres to all ATO guidelines.
What does our Property Depreciation Report include?
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TrueNorth delivers comprehensive depreciation schedules featuring:
- Building Depreciation: 2.5% per year for 40 years.
- Asset Depreciation: Includes carpets, air conditioners, and appliances.
- ATO Compliance: Meets all current ATO guidelines.
- Accountant-Ready: An easy-to-use report for immediate processing.
Ensure you get all the deductions you deserve with TrueNorth.
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Benefits of Depreciation Schedule for Rental Property
At TrueNorth, we know that a depreciation schedule is a powerful tool for rental property owners looking to save on their tax return. Here is why partnering with us is essential:
- Maximised Deductions: We ensure you claim depreciation on both the building structure and its assets, such as appliances and carpets.
- Fast ROI: Most of our clients recoup the cost of their TrueNorth schedule in the very first year through tax savings.
- Cash Flow Boost: Our reports provide regular deductions that improve your cash flow by lowering your taxable income.
- Secure Investment: We help you protect your investment by ensuring you claim every dollar you are entitled to.