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Commercial depreciation
schedules

Reduce your tax liabilities with
commercial depreciation

Commercial
depreciation schedules

BMT has completed thousands of commercial depreciation schedules for a range of commercial properties including:

Farms
Warehouses
Hospitals
Offices
Restaurants and hotels

Both commercial property owners and commercial tenants can claim depreciation. For some commercial properties, deductions can total hundreds of thousands of dollars and when claimed correctly can turn a negative cash flow into a positive one.

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

Why choose BMT Tax Depreciation?

Comprehensive reporting

Our commercial depreciation schedules
can be split for multiple entities, tenants
and assets purchased at different times.

Complimentary estimates

We will provide a complimentary
depreciation assessment before you
proceed.

Deep industry knowledge

We apply our knowledge of industry
specific legislation to maximise
depreciation deductions and ensure compliance.

The BMT Guarantee

If we can’t find double our fee in
deductions in the first full financial year,
there will be no charge for our services.

A commercial tax depreciation schedule from BMT can include:

Separate reports where multiple entities or tenants control different assets or have different acquisition dates
Removed division 40 and 43 assets, allowing residual value balance adjustment write-offs for demolished construction work and removed assets
Depreciation assessment of abandoned fit-out assets by tenants for residual value write-off purposes
Comprehensive asset registers, including photography and a fair market valuation, location, make and model for each asset
A complimentary review of existing depreciation claims to identify areas where your current claim isn’t maximising your deductions
All applicable accelerated rates, general business pools and current instant write off available for business
A transaction due diligence review of depreciation claims and potential claims

Commercial case studies

Renovated pub
Purchased price $1,100,000

Office building
Purchased price $1,100,000

Dairy farm
Purchased price $3,600,000

Vineyard
Purchased price $4,500,000

Renovated pub
Purchased price $1,100,000

Office building
Purchased price $1,100,000

Dairy farm
Purchased price $3,600,000

Vineyard
Purchased price $4,500,000

Commercial depreciation schedule FAQs

FAQs

Commercial depreciation schedule FAQs

FAQs about depreciation schedules

Do I need a new commercial depreciation schedule each year?

You only need one commercial 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.

Do you inspect properties?

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.

Is my property too old to claim depreciation?

It is a common myth that older commercial buildings 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. For a commercial building capital works deductions are available from 20th July 1982, find out more about the capital works deduction.

Can I claim previous renovations?

Yes. Anything in the property that is part of a previous renovation will be estimated by our quantity surveyors and depreciated accordingly, even if the work was completed by a previous owner. This includes items that are not obvious, for example new plumbing, water proofing or electrical wiring.

What is scrapping?

If you are refitting or renovating your commercial space, there may be substantial depreciation deductions available for any structural elements being removed. This is known as scrapping. Scrapping allows you to claim depreciation deductions for the residual value of removed assets in the year the items are removed.

To take advantage of deductions for scrapped assets, a commercial depreciation schedule must be arranged both before and after the renovation takes place. The pre-renovation depreciation schedule will detail asset values and can act as evidence in the event of an ATO audit.

Once the renovation has been undertaken, a quantity surveyor will compile an itemised schedule detailing the depreciation deductions available for the brand-new plant and equipment assets and capital improvements. The commercial depreciation schedule will also show the undeducted value of the removed structural assets.