Did you know that as a commercial office owner or tenant, you’re allowed to claim a depreciation deduction for your Sydney office fit-out?
This is a crucial benefit for businesses that might just be starting out, with a mountain of other costs to face. Any financial offset is so important, so you must claim depreciation on your fit-out.
The depreciation will occur over a period of years, as normal wear and tear takes a hold of your Sydney office.
Getting it right is so important for a number of reasons. Here’s how to do that.
What Can You Claim?
You can claim depreciation on most components of your Sydney office fit-out. For example, this may include:
- Benches and benchtops.
- Floor finishes such as carpet, timber laminate and tiles.
- Fire extinguishers and other related equipment.
- Desks and workstations.
- Blinds, curtains and other window coverings.
- Storage units and shelving.
- Security systems.
- Air-conditioning units.
The best way to ensure you’re claiming everything possible is to work with a Sydney tenant advisory like Niche.
We’ll give you insightful advice that’s backed by years of experience in the Sydney commercial property sector.
How to Go About It?
You need to ensure you maximise your deductions when claiming depreciation on your Sydney office fit-out.
This way, you’ll effectively be saving money for your business in the long run.
The first step, as above, is knowing what exactly you can claim depreciation on. That is essential when submitting your claims at the end of the financial year.
If you miss items, you’ll only be costing your business unnecessarily. Then, you’ll need to lodge your claims with the ATO.
Sometimes, it can be quite confusing. Therefore, it’s imperative you work with the professionals throughout the whole process.
Consult the Professionals
At Niche Tenant Advisory, we can help you ensure you’re claiming everything possible on depreciation for your Sydney office fit-out.
This will allow you to maximise the financial benefits of claiming depreciation, allowing your business to funnel finances into other important avenues.
To discuss your office fit-out depreciation claim, get in touch with Niche Tenant Advisory here.
