What’s included in a BMT Tax Depreciation Schedule?

What is included in a BMT Tax Depreciation Schedule?

A BMT Tax Depreciation Schedule ensures that you are maximising the cash return from your investment property or commercial building each financial year.

A BMT depreciation schedule includes the following components:

  • Detailed 40 year forecast illustrating all depreciable items
  • Both prime cost and diminishing value methods of depreciation to help you decide which method is best for you
  • The effective life and depreciation rate for all division 40 (plant and equipment) assets
  • Low value and small business entity pools and instant asset write-off
  • A glossary of terms to help you understand the terminology used throughout the schedule

The BMT process

BMT Tax Depreciation’s CEO, Bradley Beer, talks about the BMT process.

Residential and commercial depreciation examples

Here are some examples of typical depreciation amounts found by BMT Tax Depreciation based on the diminishing value method of depreciation. For further examples visit our case studies page.

blue armchair and white timber couch with blue throw rug
Residential investment property
Building type Purchase price Year 1 depreciation Year 1 - 5 cumulative depreciation
1 bedroom unit $450,000 $9,000 $41,000
2 bedroom unit $500,000 $12,000 $52,000
3 bedroom unit $620,000 $15,000 $63,000
Townhouse
$480,000
$8,000
$40,000
Townhouse $550,000 $11,000 $51,000
Residential house $500,000 $11,500 $53,000
Residential house $600,000 $13,000 $55,000
modern loft office space, white brick walls, large boardroom
Commercial / Industrial
investment property
Building type Purchase price Year 1 depreciation Year 1 - 5 cumulative depreciation
Strata office $750,000 $31,000 $127,000
Office building $1,000,000 $40,000 $165,000
Office building $2,500,000 $95,000 $390,000
Office building $10,000,000 $390,000 $1,600,000
Warehouse $30,000,000 $1,100,000 $4,500,000
Nursing home $16,000,000 $550,000 $2,500,000
Retail shop $1,000,000 $42,000 $170,000
Note: each example assumes the property is less than five years old.

What sets a BMT Tax Depreciation Schedule apart?

Maximum deductions

We leave no stone unturned in order to find you every deduction available.

Flat solid BMT blue

Australia wide service

We will complete your depreciation schedule no matter where your property is located.

Split schedules

We provide split depreciation schedules on co-owned properties to maximise deductions.

User tie solid BMT blue

Site inspections

We use our own staff to conduct inspections rather than outsourcing.

The BMT Guarantee

We guarantee to find double our fee in deductions in the first full financial year claim or there will be no charge for our services.

New rates and thresholds for small to medium business

How do I claim depreciation?

Arranging a BMT Tax Depreciation Schedule couldn’t be easier.

1: Get a Quote

Find out how much your depreciation schedule will cost by requesting a quote.

2: Provide details

We’ll collect property details then contact your property manager or tenant to arrange access for one of our specialist staff to complete a property inspection.

3: Claim deductions

Your schedule will be ready within 7 days of receiving all information. We can even forward it to your accountant to save you time.

FAQs

FAQs about depreciation schedules

FAQs about depreciation schedules

What areas do you cover?

BMT Tax Depreciation is one of only a few tax depreciation schedule providers that offer an Australia-wide service. No matter where in Australia your property is located, we can help. For details of your nearest office please visit the contact us page.

Yes, we inspect properties to ensure that we identify all assets and maximise the depreciation deductions available. This assures our schedules are fully compliant with the requirements of the ATO and the guidelines set out by the Australian Institute of Quantity Surveyors and the Royal Institute of Chartered Surveyors.

It is a common myth that older properties will attract no depreciation claim. However, both new and old properties will hold some depreciation benefits.

A depreciation schedule is the best way to ensure the biggest tax refund possible. A BMT Tax Depreciation Schedule covers all deductions available over the lifetime of a property.

BMT Tax Depreciation works with your accountant to ensure that your depreciation claim for your investment property is maximised each financial year. The ATO states in taxation ruling 97/25 that quantity surveyors such as BMT Tax Depreciation are one of the only recognised professions with the appropriate construction costing skills to estimate construction costs for depreciation purposes.

Once we have collected all the details we need, it usually takes between five and seven days to prepare your tax depreciation schedule.

The ATO has determined that any building eligible to claim depreciation has a maximum effective life of forty years from the construction completion date. Therefore, a brand-new building holds up to forty years of depreciation, whereas the balance of the forty-year period is claimable on an older property.

Each property is different, so we’ll need to speak with you to confirm the details, but generally for us to get started, we’ll ask you for the following information:
  • Your settlement date
  • Purchase price
  • Contact details for your property manager or tenant to organise the site inspection
  • Information on improvements or additions made to the property
  • The date the property become income producing
If you’re ready to get started,request a quote and one of our friendly staff will contact you to discuss your depreciation needs.

You only need one tax depreciation schedule per investment property. We recommend you get your schedule soon after settlement to ensure that you’re claiming the maximum deductions straight away.

If you make significant changes to your property, you may need to update your schedule.

No problem. Simply register for our free portal MyBMT to access your schedule and for a range of other tools to help you manage your investment property and conduct research.

How to use a BMT Capital Allowance and Tax Depreciation Schedule

Simply provide your accountant with your BMT Tax Depreciation Schedule to start claiming maximum deductions. We can also liaise with your accountant and provide the report directly. Just let us know when you order your schedule and we’ll be happy to help.

How to use a BMT Capital Allowance and Tax Depreciation Schedule

Simply provide your accountant with your BMT Tax Depreciation Schedule to start claiming maximum deductions. We can also liaise with your accountant and provide the report directly. Just let us know when you order your schedule and we’ll be happy to help.

Blog articles

Contact us

Find out more about a depreciation schedule