& Taxation Services


Disclaimer: the following information is general in nature and was current only at the initial publication date. You should not rely upon or act upon any such information without checking with your tax advisor to confirm the currency, accuracy and possible application of any information to your personal circumstances.


Rental Property Deductions

We see new ATO warnings as a reminder to new and existing rental property owners to make sure you are CLAIMING all possible tax deductions. DON’T MISS OUT on thousands of dollars by not claiming capital works deductions or allowable depreciation amounts. In most cases this is the second biggest rental property deduction (after interest) in your income tax return.

From 2018 most travel claims to rental properties are not deductible and there are some restrictions on claiming depreciation deductions from second-hand items…

BUT… You can still claim qualifying capital works tax deductions (capital allowances or depreciation) on the structure of the building, including capital works carried out by the current or a previous owner, even if you are a new investor, AND depreciation on new assets that you purchase for the property.

With extra scrutiny by the Australian Taxation Office (ATO) of rental property tax deductions in 2018 it’s very important to get it right. Make sure you are maximising your claims by getting the right professional tax advice and using a quality Quantity Surveyor to get the most claims and biggest possible tax refund. A good quantity surveyor can provide you with a detailed 40 year depreciation schedule in both paper and various electronic forms. We can also secure discounts with two of the major national quantity surveyor firms on your behalf if needed.

ATO Warns Property Investors About Tougher New Tax Laws


2017 Christmas Letter & Office Closures for the Holiday Period

As we close out 2017 and welcome 2018 everyone at All Accounting & Taxation Services would like to wish you a Merry Christmas and a safe holiday break.

We will be having a break for a few weeks as well. Our attached 2017 Christmas letter has the full details below.

2017 Christmas Letter


Property Investor Depreciation Changes (From the May 2017 Budget)

For most property investors one of the biggest tax deductions is depreciation and special building write-offs. The May 2017 budget made some changes that affect investors purchasing 2nd hand properties after 7.30pm 9/5/17.

Below is a good video from BMT discussing some of the changes –  

BMT Parliament Passes Changes to Depreciation Legislation 

Most of our existing clients use either BMT or Washington Brown for their Quantity Surveyor reports to get detailed reports spanning up to 40 years. Their usual costs at the time of writing (before any discounting) is around $770.

Please make sure you advise them that you are a client of All Accounting & Taxation Services and the relevant office (Erina or Woy Woy) so we can get a full detailed electronic copy of your report that can be imported into our tax software. This will allow our office to easily write-off used assets (if sold, replaced or scrapped) in future income tax returns, maximising your tax deductions and minimising manual work and costs to you.

If using BMT – We can also link your depreciation report to our office MyBMT account so we can access it again in the future (if needed).

If using Washington Brown we may be able to negotiate a lower fee to you of $660 (saving you $110 from the usual $770 rrp) including any possible small referral fees.

For more information please do not hesitate to call either Marc O’Keeffe or Con Tsambos at our Erina office on 02 4365 4991 or our Woy Woy office on 02 4341 6919.

Quantity Surveyor Websites include: 

Washington Brown – https://www.washingtonbrown.com.au/ 

BMT – https://www.bmtqs.com.au/   


June 2017 Tax Time Newsletter

All Accounting and Taxation Services produce newsletters that are emailed to our clients to highlight some of the important changes affecting taxpayers. By reading our June newsletter and combining it with our checklists (which summarise all the necessary information we may need to do your tax return) you can help us to ensure you get the best possible tax refund for your particular situation. If you are an existing client and have not received an email containing our newsletter link please check your junk mail and make sure you have made All Accounting & Tax a trusted source. You can update your email address by calling our office.

2017 June Tax Time


End of Year Tax Tips

As the end of a financial year approaches it can be a good time to review your records and decide whether to implement any tax saving strategies before year end.

We have produced some end of year tax tips for your consideration below.

End of Year Tax Tips


April 2017 School Holidays – What to do 

As we all break for a well deserved Easter long weekend we have found some fun things for kids and families to do these holidays. Please see the link below for a ‘What’s On’ on the Central Coast, as well as a Cinema Movie Roundup section filled with links and information for films showing over the school holidays.

2017 April Holidays – Word Version for Links       2017 April Holidays – PDF Version   


Top 6 Individual Tax Tips

Here are some of our tips for individuals to get larger tax refunds and put more money back into your pocket.

Top 6 Individual Tax Tips


IMPORTANT – Trust Distribution Minutes to be completed before 30 June

This a reminder of the recent changes made by the Australian Taxation Office in relation to discretionary trusts. Over the past 2 years the ATO has really been focusing on the compliance of trusts. Recently they have announced that:

  • All Trustee distribution resolutions must be made before 30 June for each income year.

This means that for each Financial Year you will need to do a resolution that specifies how the ‘Trust Income’ will be distributed for the year ending 30 June.  This does not mean that
exact amounts will need to be specified for each beneficiary, but it should specify either an amount in dollar terms or an amount as a percentage of trust income for all beneficiaries.

Ramifications if you do not have an appropriate resolution

If you do not have an appropriate trustee distribution resolution it may mean that the trustee will be assessed at the highest marginal tax rate on all of the taxable income of the trust.

ATO requests

The ATO has also stated that they will be conducting a review for compliance of such resolutions. They will be writing to a number of trustees in as early as July each financial year requesting a copy of their last financial years distribution resolution.

If you need any further assistance or have any queries in this regard or if you are contacted by the ATO as mentioned above please do not hesitate to contact our office.



All Accounting and Taxation has produced a number of client checklists which outlines all of the information you should provide to our office to ensure you get the best possible refund for your personal circumstances.