Any owner of a property that generates an income is eligible to receive significant taxation benefits.

Research shows that 80 per cent of property investors are failing to maximise the deductions claimed from property depreciation and are therefore missing out on thousands of dollars in their pockets.

So if you are thinking about renovating, make sure you then get a depreciation schedule to ensure you claim the maximum deductions.

What is depreciation and how come you are allowed to make a claim?

Because your investment property is making an income you are able to claim expenses. These include insurance, repairs, property management, rates and water.  Part of your investment expenses include deprecation.  This means as your property gets older it is losing value and The Australian Taxation Office allows the investor to claim this lose as an expense.