Welcome to the Property Pulse Podcast! Join host Geoff Tomkins in an enlightening discussion with Daniel Simone, an expert in property depreciation with over 20 years of experience in residential construction. Daniel shares valuable insights into the importance of depreciation and its impact on tax benefits for property investors.

Guest Profile:

Daniel Simone is an esteemed expert in property depreciation, boasting over two decades of experience in residential construction. With a focus on maximizing tax benefits for property investors, Daniel provides invaluable advice and insights.

Key Discussion Points:

– EXCLUSIVE OFFER: Learn about the special discount Duo Tax is offering on depreciation reports to GCT Property customers. Contact Geoff for more details!

– Understanding Depreciation:  Daniel explains the significance of depreciation schedules and how they allow property investors to claim against taxable income, covering Division 40 (Plant and Equipment) and Division 43 (Capital Works).

– Benefits of Depreciation: Discover how depreciation schedules help reduce tax obligations and enhance cash flow for property investors, providing more disposable income for future investments.

– Types of Depreciation: Learn about the two methods of depreciation—diminishing value and prime cost—and how they affect tax deductions over time.

– Legislation Changes:  Stay informed about recent updates in tax laws, including the 2017 regulation changes regarding existing plant and equipment items in residential properties.

– Maximizing Depreciation Claims: Explore strategies such as property renovations or investing in new builds to increase depreciation claims and optimize tax benefits.

– Insurance Insights: Daniel highlights the importance of landlord’s insurance for property investors, offering protection against potential income loss.

– Property Inspection vs. Documentation: Understand the flexibility in obtaining depreciation reports, either through physical property inspections or based on fixtures and fittings documentation.

CONNECT WITH GEOFF TOMKINS

Website: https://gctproperty.com.au/

Email: geoff@gctproperty.com.au

Phone: 0404 852 781

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Connect with Daniel Simone

Phone: 0482 095 306

Email: daniels@duotax.com.au

Web: https://duotax.com.au/

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General advice warning: The information on this podcast is of a general nature. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives, and requirements and seek financial advice before making any financial decisions.