What is a Tax Depreciation Report?

Tax depreciation is a deduction against assessable income that allows the property owner or investor to receive a reduced tax bill. The deduction is based on the property's depreciating value. A tax depreciation report is prepared by a quality surveyor. The report shows how much depreciation an owner or investor can claim on a property over the life of the building. A tax depreciation report should include methods for both the prime cost and diminishing value. Read More