Hi All,
I am converting our current home into investment property.
I need to get the depreciating report.
anyone has experience of which company better? BMT or Washington brown?
thanks for all the reply
Depreciation report for investment property. BMT or washington brown?
emiko on 09/01/2014 - 18:22
Comments
There is also depreciator.com.au which is run by a bloke I used to discuss property investment strategies with. They know their stuff.
Also had 3 properties done with BMT - very happy with their service
Just used BMT for our first Commerical property - thumbs up!
I used a different provider - Corpred.com.au. Got the $500 version (gold) which includes a full inspection.
Because of this document, I got over $2K in tax back a year. Best $500 I have ever spent!
Technically, as I understand it, you are deferring your tax to the point at which you sell (because you have to reduce your cost price by the amount of depreciation claimed thereby increasing your capital gain), but it certainly helps with the cashflow in the mean time. And if you plan the capital gain event to be in a year you don't earn much income…
The BMT schedules are solid, I recommend them quite a bit. Very detailed and will have all the information your accountant needs.
I've had two rental properties done with BMT, no complaints. Can't comment on the other one.
Also, if you haven't already done so, get advice from an accountant that specialises in property investment.