How It Works
1. Check Eligibility & Get Estimate
First, a simple check for the property eligibility.
Then a few steps to get an estimate for how much you can expect to claim on tax each year.
This helps to see if it's work getting a tax depreciation schedule for the property.
2. Register & Enter Property Address
Register a user with email/password. (or log in).
Then enter the address of the investment property.
3. Enter Purchase Details
Enter property purchase details like: property type, did you use a builder, Contract/Settlement dates, purchase price, date rented etc.
4. Enter Property Details
Property details will vary depending on type of property. But the basics would be the closest capital city, quality of finishes, floor area and construction completed date.
5. Enter Rooms & Content (Renovations)
Here you will go through each room/space inside and outside the property. You will capture the types of content in each room, the quantity what type. If the property is rented furnished, you can also add furniture. If you or previous owners have done renovations, you can add those too.
6. Complete Payment & Download Schedule
Once you have entered all the content and potential renovations,
you are ready to complete the purchase and download the tax depreciation schedule with all the details.
Once you have downloaded the schedule you can send it to your accountant (if you have one).
You will now be able to claim the depreciation on your investment property on your tax.