Urban Consulting was established to provide a fully integrated professional quantity surveying service, specialising in Property Allowances and Tax Deprecation via the use of a guaranteed, quick, simple and affordable ATO encourages self-assessment tax principles such as TaxShield, TaxUpdate & TaxEstimate.
Unique and innovative, our Tax Depreciation Schedules are designed to meet the needs and demands of the many Astute Property Investors currently utilising our tax services.
In an ever-changing climate of tax legislation as it relates to Investment Properties, it is the goal of Urban Consulting to stay firmly up-to-date with expert advice and solutions. Our constant consultation with members of the ATO in relation to any potential changes and amendments in the Property Tax Legislation, make this goal a reality.
We understand the needs and expectations of our Clients; a group as diverse as individual property investors, investment and finance groups, tax accountants and tax agents, and the general property investment industry.
If you own an Investment Property, you are eligible Under Division 40 & 43 of the Income Tax Assessment Act to claim depreciation on all Items of Plant contained within the property. Secondly, if constructed after 1985, an allowance of either 2.5% or 4% is applicable on the construction cost, depending on its start date.
Regardless of age, ALL PROPERTIES are eligible and contain depreciable plant that should be re-valued and given a new effective life from the date of settlement. In addition, a capital works allowance on the building is available for any investment property with a construction start date after 1985.
A Tax Depreciation Schedule will maximise the amount of non-cash deductions you will receive in your Investment Property Tax Return. A Tax Depreciation Schedule differentiates between depreciable plant and building works allowance, and provides a detailed analysis sufficient to satisfy strict ATO requirements.