EP60: How do Depreciation Schedules work? with Mike Mortlock

Everything Property

Welcome back to the Australian Property Investing Podcast Everything Property with your host David Hamilton. On today's episode, Mike Mortlock joins us to chat about Depreciation Schedules (no doubt his favourite topic) as we are closing in on the end of the financial year and Tax time. On this episode, we discuss:
- What is a Depreciation Schedule and how do they work?
- Who can get a Depreciation schedule?
- How much do Depreciation Schedules cost?
- What type of Property is suited to a Depreciation Schedule
- Tax time tips and tricks from an industry expert
- The minimum $ spend you need to claim Depreciation on a renovation
- How Depreciation works when you sell a property
- The relationship between Depreciation and your cost base
- How to 'front load' you Depreciation Schedule when renovating
- The two 'Depreciation buckets'
- What materials depreciate quicker
- The difference between an expense and depreciating replacement
- Plus much, much more!
To get in touch with Mike and his team, head over to:
https://www.mcgqs.com.au/
Don't forget to check out the summary post on our Instagram we just posted which covers what we discuss in this chat.
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Disclaimer: The topics, conversation, opinions and discussion provided in this episode are general in nature. As a listener you should not take or use the information discussed as financial advice. Everything Property and its associates recommend that you always engage in independent financial advice before making any investment or purchasing decision.