One of the key advantages of property investment is the ability to use depreciation to reduce taxable income.
John Sage notes that a depreciation schedule allows investors to deduct the wear and tear and reduction in value of a rental property from their taxes, potentially lowering the tax payable.
Depreciation also enables you to claim legitimate tax deductions. The only legal way to claim the decrease in value of a property’s structure is by using a depreciation schedule, helping maximize savings while protecting rental returns.
Even if the property has been refurbished by a previous owner, working with a qualified quantity surveyor ensures that you can still gain substantial tax benefits from property investment depreciation.