BMT Tax Depreciation website

BMT Tax Depreciation has shared some pros and cons to consider when deciding if you should purchase a second-hand investment property. 

BMT Tax Depreciation has found more than $14 million dollars in total estimated depreciation tax deductions on The Block 2020.

Depreciation saves investors thousands of dollars each and every year. It’s the only non-cash deduction available, meaning they never need to spend anything to claim it. 

Investors who self-assess or estimate costs based on their own judgement when lodging their tax return are potentially missing out on thousands of dollars, according to BMT Tax Depreciation.

Owners of income-producing properties can claim the wear and tear of certain outdoor structures and assets as a depreciation deduction when completing their annual income tax returns with their accountant.

BMT Tax Depreciation say investors don’t need to own or rent an investment property for a full year to claim depreciation deductions this tax time.