If you’re worried that you may have missed out on claiming depreciation, get in touch with a tax depreciation expert as soon as possible. This case study shows the value of getting the right advice on your potential claims.
As our Taylors Insight: It's Never Too Late To Claim Depreciation...Except When It Is explains, it can be too late to claim depreciation deductions...but fortunately it is not always the case.
Case Study 1
One of our international clients who was not familiar with Australian taxation laws, had not lodged a tax return for quite some time, and assistance was required in reducing the taxable income. One important element of this was a tax depreciation schedule that MCG Quantity Surveyors could provide, thereby reducing payable tax over an extensive period for our client. MCG assisted by providing a depreciation schedule that included a complete list depreciating assets associated with the property that our client may otherwise not have known could have been claimed as a tax deduction.
Not only did MCG create a report that reduced the owner’s tax payable, but the efficient service provided showed our client the value Taylors offers by having trusted relationships with strategic partners – like MCG – that help our clients with their property journey.
Like To Learn More?
MCG Quantity Surveyors has completed tax depreciation schedules for our clients in a very timely manner, resulting in positive outcomes like the one in this case study. You can rely on them to ensure that no items are missed reports maximise tax depreciation deductions in line with current ATO rules.
If you need to claim depreciation deduction and are concerned time is not on your side, contact Marty Sadlier, Director of MCG Quantity Surveyors, on 0425 392 806