Posted 3/03/2011 Updated 3/03/2011 Tags: Depreciation Rental Property Tax Refunds Tax Returns  

From the 1 April 2011 financial year and onwards, there is no longer the ability to claim depreciation on buildings with an estimated useful life of 50 years or more. However chattels (for example stoves, carpets,... more

Posted 20/09/2010 Updated 10/03/2011 Tags: Business Claimable Expenses Depreciation Income Tax Tax Compliance Tax Returns  

People often ask us if it's a good idea to spend money to save tax. The idea is by creating additional expense the business can claim the cost as an expense in the business income tax return. This does work but it... more

Posted 16/01/2009 Tags: Business Claimable Expenses Depreciation FBT GST Vehicles  

The benefits of leasing a vehicle are: Get to claim the lease as a monthly expense. May have an upgrade option after a certain period with keeping the lease payments roughly the same. Still get to claim running... more

Posted 6/10/2008 Tags: Depreciation Income Tax Rental Property  

Depreciation is the devaluation of your rental property building at a small percentage per year – this becomes a cost like rates, interest etc and makes your overall loss bigger – which equals better tax refunds. When yo... more