Latest News
Depreciation expert urges property investors to leverage tax depreciation
Seventy per cent of people are not maximising the tax depreciation opportunities on their investment properties, a depreciation expert has said.
.
Property investors and first home buyers need to engage a quantity surveyor to take advantage of possible tax depreciation opportunities every financial year.
According to Brad Beer, BMT Tax Depreciation chief executive, after 28 years of working within the depreciation space, there were still up to 70 per cent of property investors not maximising tax depreciation and a depreciation schedule.
Speaking on an Under the Hood podcast episode, Beer recommended that more people work in line with their accountants at looking at what money could be made back through a quantity surveyor and the knowledge they offer.
“If you buy a property that is appreciating in value, but the carpet is wearing out, the bricks and mortar are wearing out, the stove is wearing out, those things are depreciating,” Beer said.
“The Tax Office allows us to claim a deduction for the loss in value of those things. Why is it important? Because it means more money in your pocket.”
“The first year claim out of the reports we did last year was about $11,000, that was the average. Some get more; some get less. That’s a residential average, and that’s a fair bit of deduction out of a residential investment. So, it makes a big difference to the cash flow and people that maybe are struggling to afford that property.”
Beer noted that a common misconception for property investors was that they often thought that depreciation would be looked after by their accountant, rather than a quantity surveyor. Usually, an accountant acted as a middleman between the ATO and the quantity surveyor.
According to Beer, if wanting to maximise depreciation claims from a property for tax purposes, engaging a quantity surveyor was crucial as they can provide accurate and reliable information, as well as documenting it in a way that could be easily referred back to and updated.
“The most common misconception I see is that people often ask me: ‘Well, doesn’t my accountant look after that?’ Or they say: ‘I’ve got a good accountant, what’s wrong with my accountant?’,” he said.
“Nothing is wrong with your accountant. Your accountant is probably great, and if they really are good, they will engage a depreciation specialist for the areas you need to get the most out of your tax.”
“If you haven’t yet, they definitely speak to a quantity surveyor, or your accountant, about getting one in. Talk to them and see if there’s money there you could be claiming. Any good quantity surveyor will be able to tell you exactly what depreciation opportunities you have.”
In addition to this, another misconception often associated with the depreciation of properties was around the age of the property or the timeline of the purchase and/or investment.
Beer noted that when it came to investment properties, age did make a difference; however, it didn’t matter or impact the opportunity of what could be potentially claimed.
“I look at the time I have spent in this industry, and I spend a lot of time with property investors and accountants and people in the property industry.”
“We help them save some tax. We’ve had the opportunity to teach them over that time, to really teach the property industry what it’s all about and what it means for the numbers. I’ve seen a lot of people get money back after they never realised it was there and they’re always happy with that.”
Imogen Wilson
29 April 2025
accountantsdaily.com.au
Latest Articles
Upskilling and self-education costs
The expenses need to have a sufficient connection to your current employment income in order to make a...
What you need to know about the risks and benefits of buying an existing business or...
Depreciation expert urges property investors to leverage tax depreciation
Seventy per cent of people are not maximising the tax depreciation opportunities on their investment...
SME confidence and conditions see uptick over Q1 2025, survey reveals
Small business conditions and confidence notably improved throughout Q1 of this year, but remain in negative...
From 1 July 2025 ATO Interest is no longer tax deductible
On 26 March, the government passed legislation denying tax deductions for ATO interest. This change takes...
2025 Tax Planning Guide Part 2
From 1 July 2025: From July 1, 2025, the compulsory Super Guarantee Contribution (SGC) rate increases...
ASIC have recently issued the new scam warning regarding Bunnings and issuing of investment...
2025 Tax Planning Guide Part 1
Planning your taxes for the year is essential . CONSIDER THE FOLLOWING OPPORTUNITIES 1. ...
$20,000 instant asset write-off
This is a great scheme for small businesses and runs until the 30 June 2025. . Under this measure...
Why Might a Lease Dispute Occur?
A lease dispute can arise for various reasons during the lease term and even after it ends. . The most...
The Most Held Currencies in the World | 1850-2024
Check out the most powerful Currencies in the World ...
Accounting & Bookkeeping
Modern business demands up to date accurate financial information.
We can take care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.
We can also assist with meeting your reporting requirements including Business Activity Statements, PAYG Withholding and Instalment Activity Statements.
We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.
If you would like further information you can contact us on (02) 9300 3000 or .
Acquisitions & Mergers
Whether you are considering buying or selling a business, we are able to assist you in this transaction by providing experienced advice.
Each transaction is different and needs to be assessed on its individual merits. There are a number of accounting and taxation opportunities with these transactions and our experience can ensure you are maximising your benefits.
If you would like further information you can contact us on (02) 9300 3000 or .
Budgeting
A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.
In addition to goal setting value, budgets will often improve your chances of acquiring funding. Financers often require budgets as a prerequisite for funding approval.
We have extensive experience with assisting clients in the budgeting process.
If you would like further information you can contact us on (02) 9300 3000 or .
Business Start-Ups
Before commencing a new business, the following are some of the key items that need to be considered:
- Decide on the most suitable structure for your business – sole trader, partnership, trust or company
- Prepare a business plan, cashflow projections, budgets, and trading forecasts
- Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
- Establish a good working relationship with your bank
- Register for a Tax File Number and an Australian Business Number with the ATO
- Complete registration procedures with Australian Securities and Investments Commission
- Deal with company secretarial issues
- Set up a recording system for your internal use and for complying with statutory requirements
Each new business is different and needs to be considered in relation to your individual circumstances and our experience can ensure you are maximising your opportunities.
If you would like further information you can contact us on (02) 9300 3000 or .
Charitable Institutions
Charitable institutions are set up to hold money or assets and carry out activities for the benefit of the community. In Australia, a variety of charitable institutions exist including:
- Various forms of charitable trusts
- Companies limited by guarantee
- Unincorporated associations
- Deductible gift recipients
- Prescribed private fund
Each type of charitable institution brings with it different requirements and benefits. We know the practicalities of these institutions and are able to assist you by:
- Co-ordinating the preparation of constituent documents
- Applying to the ATO for an Australian Business Number and Tax File Number
- Organising tax exemptions where applicable
- Attending to all compliance and statutory filings
If you would like further information you can contact us on (02) 9300 3000 or .
Company Secretary
Company legislation requires businesses to perform many administration tasks which take up a lot of valuable company time.
We are able to assist you in the following areas:
- General advice on company law
- Company formations
- Filing of annual returns on your behalf
- Preparation of all documentation related to minutes and resolutions
- Maintenance of statutory books
- Assistance in changes of directors, shareholders, addresses, and office details
- Bonus Issues
- Share transfers
- Registered Office Facility
If you would like further information you can contact us on (02) 9300 3000 or .
Financial Structures
Having the right financial structure in place for your business or your family means looking at your individual circumstances and ensuring that your assets are being maximised whilst being adequately protected.
We have extensive experience in ensuring our clients have the best financial structure for their needs both now and in the future. We can provide advice on and assist with:
- Effective structures for asset protection
- Effective structures for tax minimisation
- The optimal structure through which to operate your business
- Structures to assist in succession planning and providing for future generations
If you would like further information you can contact us on (02) 9300 3000 or .
GST
Every transaction has GST implications. We have experience with these issues and are able to offer expert advice on the implications of GST for your business. The GST related services we offer include:
- Assistance with registering for GST
- Filing and adjusting GST returns
- ATO audit assistance
- Advice on GST related issues
If you would like further information you can contact us on (02) 9300 3000 or .
Management Consulting
We are practiced in acting as a sounding board for management, bringing to the relationship years of experience in business growth and analysis.
We are able to check that your business is as competitive, focused, and profitable as it can be and we will work with you to address any issues.
If you would like further information you can contact us on (02) 9300 3000 or .
Payroll Services
We can provide a comprehensive and confidential payroll service including:
- Administration of PAYG Withholding, statutory sick pay, annual leave etc
- Australian Taxation Office filing
- Summaries and analyses of staff costs
- Administration of incentive schemes, bonuses and termination payments
- Assistance with payroll tax and workers compensation obligations
If you would like further information you can contact us on (02) 9300 3000 or .
Rental Properties
We can assist in a variety of areas in relation to residential and commercial property including:
- Advice on funding
- Cash flow analysis of property investment
- Guidance in tax related areas including negative gearing and capital gains tax
- Advice on ownership structure
- Preparation of initial land tax returns and land tax variation returns
If you would like further information you can contact us on (02) 9300 3000 or .
Clients of Wybenga & Partners Pty Limited can engage our partner firm, Washington Brown, for a competitive price on their depreciation services: Tax Depreciation Quote Request – Wybenga & Partners Pty Limited Clients
Strategic Planning & Advice
Our Strategic Planning Service is designed to assist our clients to develop financially towards the achievement of their lifetime objectives. Our experience and proven results provide our clients with the security that their financial goals will be met.
Wybenga Financial Pty Ltd is an organisation providing wealth creation and management services to private clients.
If you would like further information you can contact us on (02) 9300 3000 or .
Superannuation
Self-managed superannuation is a flexible means of saving for retirement. It allows you to take control of your superannuation, adopt a customized investment strategy and control fund administration costs.
Superannution law is a delicate area and personalised planning is required for each individual. We have extensive experience in all areas relating to superannuation and can assist in establishing a superannuation fund that will effectively allow you to reach your financial retirement goals.
Services we offer include:
- Establishment of Self Managed Superannuation Funds
- Advice concerning Compliance Matters
- Advice concerning Taxation Benefits
- Advice on Employer obligations
If you would like further information you can contact us on (02) 9300 3000 or .
Taxation
We offer a complete range of taxation services and advice based on proven knowledge and experience. Our proactive approach ensures we deliver a consistent service and build solid relationships.
We will work with you to help reduce your tax exposure and provide services including:
- Advice on all areas of direct and indirect taxation
- Preparation and lodgement of annual income tax returns for all types of entities
- Preparation of PAYG withholding variation applications
- Preparation of activity statements and advice on payment of tax
- Assistance with GST/FBT obligations including preparation and lodgement of relevant forms
- Advice on and implementation of tax effective trust structures for asset protection and tax minimisation
- Management of any ATO audits or disputes
If you would like further information you can contact us on (02) 9300 3000 or .
Trusts
A trust provides a valuable way of protecting the assets you have accumulated for the benefit of yourself and others. A trust can also be an effective structure for running your business.
We have extensive experience with trusts and are able to offer specialist advice on establishment and compliance, ensuring that all statutory requirements are met.
Wybenga & Partners are able to organise for the preparation and execution of documentation involved in Trust formation.
Our Trust administration service includes:
- Minute keeping service
- Annual accounts
- Taxation
- Maintenance of CGT register
- Income distribution
If you would like further information you can contact us on (02) 9300 3000 or .
Chris Wybenga
B.Bus, CA
Chris is the Managing Director of the Firm who established the practice in August 1994 and has been responsible for its growth and development since that time.
Chris has over 40-years experience in the Chartered Accountancy profession, predominantly spent in small to medium sized firms, advising small and medium sized businesses and individuals in areas such as taxation and accounting as well as business restructuring and superannuation advice.
Chris remains active in the development of young accountants through mentoring cadets at the Firm.
- 1980 – Commenced employment and part time university studies
- 1985 – Graduated Bachelor of Business from University of Technology, Sydney
- 1986 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 1994 – Established Wybenga & Partners
Dianne Bechara
B.Bus, CA
Dianne is responsible for the day-to-day operations and administration of the practice.
Dianne has over 30-years Chartered Accountancy experience and has significant expertise in providing advice and solutions to high-net-worth individuals and their associated entities. Dianne also has considerable knowledge in the areas of taxation, business services, superannuation, and compliance.
Dianne is active in promoting gender equality in the industry through various programs and mentoring opportunities. Dianne is also committed to the development of young accountants and donates considerable time to sharing her expertise.
- 1992 – Graduated Bachelor of Business from University of Technology, Sydney
- 1993 – Commenced employment in acounting profession
- 1996 – Commenced career with Wybenga & Partners
- 1997 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2002 – Appointed as Director of Wybenga & Partners
Roger Potter
B.Bus, CA
Roger has over 40-years in the Chartered Accountancy profession and significant expertise in providing advice and solutions to small and medium sized businesses and high-net-worth individuals. He also has extensive experience in the areas of Self-Managed Superannuation Funds and retirement strategies.
- 1985 – Commenced employment and part time university studies
- 1990 – Graduated Bachelor of Business from University of Technology, Sydney
- 1992 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 1998 – Commenced career with Wybenga & Partners
- 2002 – Appointed as Director of Wybenga & Partners
Tess Uncle
B.Sc, M.Com, CA
Tess has been working in Chartered Accounting Firms since 2021 and in this time has had a broad range of experience in superannuation, taxation, business services and financial strategy.
Since 2016, Tess has turned her attention to Financial Planning, earning a Diploma of Financial Planning in 2015 and leading the financial division of Wybenga Group as a Director of Wybenga Financial.
Tess’s mission is to bring the ethics and integrity of her Chartered Accounting background to the area of wealth management.
As a woman in a male dominated field, Tess is active in promoting gender equality in the industry through various programs and mentoring opportunities.
Using her depth of knowledge and experience in tax and accounting Tess is able to demonstrate a level of competence that is unique in the Financial Planning sector.
- 2001 – Commenced employment with Wybenga & Partners and part-time accountancy studies
- 2004 – Graduated Masters of Commerce from the University of New South Wales
- 2005 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2007 – Promoted to Manager at Wybenga & Partners
- 2012 – Appointed as Associate Director
- 2015 – Awarded a Diploma in Financial Planning
- 2016 – Appointed as Director of Wybenga & Partners Pty Ltd, Wybenga Group Pty Limited and Wybenga Financial Pty Ltd
Schedule a Meeting with Tess
Adam Roberts
B.Bus, B.Sc, CA
Adam has over 18-years experience in Chartered Firms and in this time has had a broad range of experience in superannuation, taxation, and business services. In particular, Adam has had significant experience in MYOB and assisting clients with periodic management reporting.
Adam is responsible for the implementation of technology in the Firm and sourcing new areas of innovation and efficiency.
Adam is active in the development of young accountants and donates considerable time to sharing his expertise.
- 2005 – Commenced employment with Wybenga & Partners and part-time Accountancy Studies
- 2005 – Graduated Bachelor of Science from the University of Western Sydney
- 2007 – Graduated Bachelor of Business from the University of Western Sydney
- 2010 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2010 – Promoted to Manager at Wybenga & Partners
- 2012 – Appointed as Associate Director
- 2016 – Appointed as Director of Wybenga & Partners
Schedule a Meeting with Adam
Hussein Oubani
B.Bus, CA
Hussein brings over 20 years of experience working in Chartered Accounting Firms, during which he has gained extensive expertise in taxation and business services. He provides advice on various tax issues, including capital gains tax, fringe benefits tax, goods and services tax, and Australia’s tax treaties.
Hussein is dedicated to fostering the growth of young accountants and generously devotes a significant amount of time to sharing his knowledge and expertise.
- 2008 – Commenced employment with Wybenga & Partners and part-time
Accountancy Studies - 2010 – Graduated Bachelor of Business from the University of Western Sydney
- 2012 – Admitted as an Associate Member of the Institute of Chartered Accountants
Australia & New Zealand - 2024 – Appointed as Director of Wybenga & Partners