If you own an investment property, depreciation is an important tax deduction. It's a non-cash deduction, which means you can claim it without spending any money. A tax depreciation schedule is a report prepared by a quantity surveyor that identifies all of the depreciable items in your investment property. Here are four ways a tax depreciation schedule can save you money: 1. A Tax Depreciation Schedule Encourages Property Investment A tax depreciation report provides investors with a way to claim some of the costs associated with owning an investment property.
11 April 2022
There are many different professionals that are used in the making of a single house or building, and for those who don't know much about the construction industry, it can be quite confusing working out who does what. This is not helped by the fact that most of the professionals have quiet strange titles that do not always make it easy to understand their role. One of those professionals is a quantity surveyor.
11 December 2020
Working with an accountant at different stages of your business can make things easier for you. However, working with an accountant all the time can be costly. Sometimes working with these experts for several hours is enough. Most small business owners think that they cannot afford to hire accounting experts. However, when you analyse the time it takes to handle specific tasks such as taxes, it is cheaper to have a professional handle them.
25 March 2020
Construction work exposes employees and members of the public to various risks, such as falling objects, equipment accidents, slips and electrocution. As such, contractors must have appropriate insurance covers to protect themselves from financial liability arising from personal injury and property damage suits. The extract below discusses the various insurance covers a contractor should have. Workers Compensation Workers compensation compensates employees for any injuries they suffer while working. In Australia, workers compensation is a compulsory cover.
7 February 2020