Business Owners
Asset registers, insurance valuations and commercial property investment
31 expert articles in this category, written by Koste's Chartered Quantity Surveyors.
What is a Business Property Investment Strategy?
A business property investment strategy involves acquiring, managing, and optimising commercial properties to generate income and capital gr…
Understanding Expression of Interest in Commercial Property
An Expression of Interest (EOI) in commercial property is a formal offer to purchase property, indicating interest without binding commitmen…
Can I Claim Depreciation on a Franchise Fit-Out?
Yes, you can claim depreciation on a franchise fit-out in Australia. Under **Division 40 of ITAA 1997**, plant and equipment assets can be d…
How Does Stamp Duty Apply to Business Property Transfers?
Stamp duty on business property transfers in Australia varies by state and territory, with rates generally based on the property's value. Bu…
What is a Business Succession Plan and How Does Property Fit In?
A business succession plan ensures the smooth transition of business ownership. Property can be integral, serving as an asset or funding sou…
What R&D Concessions Apply to Commercial Property Development?
R&D concessions in Australia can provide significant tax offsets for eligible commercial property developments. Activities must meet the cri…
Can You Claim Depreciation on Intangible Business Assets?
Yes, you can claim depreciation on certain intangible business assets in Australia under **Division 40 of ITAA 1997**. This includes assets …
What is the ATO's Position on Mixed Use Property?
The ATO allows deductions for business use of a property, but only for the portion used for business. Under Division 40 and Division 43 of I…
Can I Claim GST on Capital Purchases for My Business?
You can claim GST on capital purchases for your business if you're registered for GST and the purchase is used for business purposes. The GS…
What Happens to Business Property Assets When Selling?
When you sell your business, any property assets like buildings or equipment are typically included in the sale. The sale triggers a Capital…
Can You Claim Depreciation on Leased Equipment?
Yes, you can claim depreciation on leased equipment under specific conditions. The key factor is whether the lease is a finance lease, which…
Depreciation Differences: Sole Traders vs Companies Explained
Depreciation allows sole traders and companies to claim deductions for the decline in value of assets used in their businesses. Under **Divi…
Can I Claim Depreciation on a Commercial Lease Fit-Out?
Yes, you can claim depreciation on a commercial lease fit-out in Australia. Under **Division 40 of ITAA 1997**, you can depreciate plant and…
What is a Low-Value Pool for Business Assets?
A low-value pool allows businesses to depreciate eligible assets costing less than $1,000 more rapidly. Under **Division 40 of ITAA 1997**, …
Can I Claim Depreciation on Computer Equipment?
Yes, you can claim depreciation on computer equipment used for business purposes under **Division 40 of ITAA 1997**. This allows you to dedu…
What is Pooling for Small Business Entities?
Pooling for small business entities allows eligible businesses to simplify depreciation by grouping certain assets into a single pool, depre…
How Does the Temporary Full Expensing Measure Work?
The temporary full expensing measure allows eligible Australian businesses to fully deduct the cost of eligible depreciating assets. This ap…
Can You Claim Depreciation on Business Vehicles?
Yes, you can claim depreciation on motor vehicles used for business purposes in Australia. Under **Division 40 of ITAA 1997**, vehicles are …
What is the Effective Life of Common Business Assets?
The effective life of business assets in Australia refers to the period over which an asset can be depreciated under Division 40 of the ITAA…
Can I Claim Depreciation on a Home Office?
Yes, you can claim depreciation on a home office in Australia. Under **Division 40 of ITAA 1997**, you can depreciate assets like office fur…
How to Separate Personal and Business Property Expenses
To separate personal and business property expenses in Australia, maintain clear records and allocate shared costs accurately. The ATO requi…
What is a Property CGT Cost Base Report for a Business?
A CGT Cost Base Report for business properties details the original purchase cost, improvements, and associated expenses to determine the ca…
Can You Claim Office Renovations as a Tax Deduction?
Yes, you can claim office renovations as a tax deduction, but the process depends on whether the costs fall under Division 43 (capital works…
Understanding Division 40 Depreciation for Business Assets
Division 40 of the ITAA 1997 covers depreciation of plant and equipment assets used in a business. It allows businesses to claim deductions …
Can You Lease Your Business Premises to Yourself and Claim Depreciation?
Yes, you can lease your business premises to yourself and claim depreciation, but it must be structured correctly. Ensure the lease agreemen…
How Does GST Affect My Commercial Depreciation Claims?
GST impacts commercial depreciation claims by affecting the cost base of depreciating assets. Businesses registered for GST can claim input …
Can I Claim Depreciation on Business Equipment?
Yes, you can claim depreciation on business equipment under Division 40 of the ITAA 1997. Depreciation allows you to deduct the decline in v…
How the Small Business Instant Asset Write-Off Works
The small business instant asset write-off allows eligible businesses to immediately deduct the cost of qualifying assets under a certain th…
Can I Claim a Business Fit-Out as a Tax Deduction?
Yes, you can claim a business fit-out as a tax deduction in Australia. Fit-outs are generally classified under Division 40 (plant and equipm…
Can a Business Owner Claim Depreciation on Their Commercial Property?
Yes, business owners can claim depreciation on commercial properties under Division 40 for plant and equipment and Division 43 for capital w…
Do I need an insurance replacement cost valuation?
Yes, if you own a commercial property, strata building, development asset, or specialised property, an insurance replacement cost valuation …
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