Many investors and business owners overlook the advantage of claiming depreciation as a tax deduction. In many situations, there are large tax savings to be had.
Typically, there are two parts to a depreciation schedule:
1. Depreciation on the actual building; and
2. Depreciation on plant and equipment
As a result even buildings that are decades old still may benefit from having a depreciation schedule.
You will receive a comprehensive schedule outlining:
1. Total amount to be depreciated;
2. The amounts per year that your entitled to claim;
3. Itemised amounts of the various assets with in the building as well as the building itself.