Agents will be able to provide prospective investors with an immediate estimate of their tax depreciation savings using a free app developed by quantity surveyors and tax depreciation specialists, Washington Brown.
“Savvy agents realise that information about tax depreciation can have an enormous impact on closing rates and sales”, said Tyron Hyde, director at Washington Brown.
“Having the depreciation calculator at your fingertips means fast, accurate estimates and immediate client benefits”.
The company said the app provides 10-year tax depreciation estimates, compares diminishing value method versus prime cost method of depreciation, and gives depreciation based on real property data. It is designed for an iPhone or iPad.
The company gave an example of using the property depreciation app, whereby the estimated tax deduction from a Melbourne apartment, built in 2007 and recently purchased for $400,000, is $11,000 in the first year alone.
“In a market that many experts think is ripe for selling to investors, imagine the confidence your client takes from a piece of advice that could save them thousands of dollars,” the company said.