Key Observations Regarding Tax Depreciation In A Time Of COVID-19

COVID-19 has shut many businesses down. For the more fortunate, it was only temporary as some companies are reopening and are back in business.

Social-distancing measures are being eased in Queensland, but now is not the time to relax if you’re a business owner or property investor. 

Our team noted an increase in enquiry rates about tax depreciation across all property types. These are due to businesses trying avail of new government initiatives available to improve cashflow in these difficult times. Investors who have never claimed depreciation before are now doing so to make up for the loss of income many are currently facing.

The economic impact is expected to linger for a long time, but there is definitely light at the end of the tunnel as tax depreciation savings can make the difference to the survival of any business venture.