Sorting Out Your Finance and Money Situation
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Tax Depreciation Schedule: Important Tips for Working with Quantity Surveyors
Real estate property depreciates in value as the structure and the attached equipment age. The deterioration causes loss to the investor, so the government allows the property owners to claim depreciation losses as a tax deduction. Therefore, if you have purchased commercial or residential buildings, you must prepare a tax depreciation report before filing returns. Unfortunately, calculating the value of depreciation for a building can be challenging, and mistakes will reduce the value of deductions.
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