Depreciation

There are two ways you can calculate depreciation:

1) If you already own the property, you can get a depreciation schedule from a quantity surveyor and fill in the values in the spaces provided in the Property Wizard. However quantity surveyors generally charge a fee for providing the service and is therefore best suited for investors who already own the property.

2) BMT Tax Depreciation Quantity Surveyors offer a free depreciation estimate for the first five years of the property. Before visiting this website there are some details that you will need to obtain to get a more accurate result - floor area, construction completion date, number of units and levels in the development (for apartments). Once you get the results, populate the 5 years in the table below and MID will estimate the remaining depreciation.

Why is depreciation important?

Depreciation is one of the biggest factors in determining how much tax you pay. If you have higher depreciation your reportable income may be signifcantly reduced. This can lead to significant savings which are reflected in our return calculations.