Depreciation Schedules - By Independent Property Inspectors
Posted on 04 June, 2014 in Proeperty Management, Tax Information, Investors
What is Property Tax Depreciation? Very briefly, depreciation is the decrease in value of an item over time. Think of the tax deduction for depreciation as compensation for wear and tear. Buildings being rented out suffer wear and tear, so do the Assets (fixtures and fittings or chattels). Depreciation is a tax deduction. Other tax deductions claimed by property investors include: council/water rates,…
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