{"id":1466,"date":"2016-01-23T16:23:22","date_gmt":"2016-01-23T08:23:22","guid":{"rendered":"http:\/\/people.utm.my\/noorsidi\/?p=1466"},"modified":"2016-01-23T16:23:22","modified_gmt":"2016-01-23T08:23:22","slug":"8-most-helpful-finance-hacks-7","status":"publish","type":"post","link":"https:\/\/people.utm.my\/noorsidi\/2016\/01\/23\/8-most-helpful-finance-hacks-7\/","title":{"rendered":"8 Most Helpful Finance Hacks"},"content":{"rendered":"<p><strong>7. Organise a depreciation schedule to increase your tax deductions<\/strong><br \/>\nAs investors we want to take advantage of every cost saving device available to us, and depreciation is a good one.<\/p>\n<p>A depreciation schedule works by reducing your taxable income. Fees can vary greatly so shop around for the best deal.<\/p>\n<p>Depreciation is compensation for the general wear and tear of your investment property. Investing in property is a business. There are two types of depreciation: capital works, and plant and equipment.<\/p>\n<p>Capital works involves the structure itself as well as items that are permanent (eg door and window fittings, the driveway or built-in cupboards).<\/p>\n<p>Plant and equipment are items that can be removed (eg carpets, blinds or air conditioning units).<\/p>\n<p>A common misconception is that your property has to be new to get depreciation. While your depreciation will be greatest on a new property, older properties still have some depreciation left in them, so don\u2019t discount the possibility of depreciation offhand.<\/p>\n<p>If your property was built after July 1985, you can claim both types of depreciation; however, if it was constructed earlier you can only claim on plant and equipment. Still, it\u2019s worth the effort. After all, even the fees for the schedule preparation are tax deductible!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>7. Organise a depreciation schedule to increase your tax deductions As investors we want to take advantage of every cost saving device available to us, and depreciation is a good one. A depreciation schedule works by reducing your taxable income. Fees can vary greatly so shop around for the best deal. Depreciation is compensation for &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/people.utm.my\/noorsidi\/2016\/01\/23\/8-most-helpful-finance-hacks-7\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;8 Most Helpful Finance Hacks&#8221;<\/span><\/a><\/p>\n","protected":false},"author":18926,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1466","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/people.utm.my\/noorsidi\/wp-json\/wp\/v2\/posts\/1466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/people.utm.my\/noorsidi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/people.utm.my\/noorsidi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/people.utm.my\/noorsidi\/wp-json\/wp\/v2\/users\/18926"}],"replies":[{"embeddable":true,"href":"https:\/\/people.utm.my\/noorsidi\/wp-json\/wp\/v2\/comments?post=1466"}],"version-history":[{"count":0,"href":"https:\/\/people.utm.my\/noorsidi\/wp-json\/wp\/v2\/posts\/1466\/revisions"}],"wp:attachment":[{"href":"https:\/\/people.utm.my\/noorsidi\/wp-json\/wp\/v2\/media?parent=1466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/people.utm.my\/noorsidi\/wp-json\/wp\/v2\/categories?post=1466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/people.utm.my\/noorsidi\/wp-json\/wp\/v2\/tags?post=1466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}