Five things you didn't know about hotel asset depreciation
To help hotel property owners and tenants gain a better understanding of depreciation, BMT Tax Depreciation outlines five little-known facts about the process.
Holiday parks offer plenty of activities and depreciation deductions
Holiday Parks can potentially carry thousands, and even millions, of dollars in depreciation deductions available over their lifetime, according to BMT Tax Depreciation.
Reducing fit-out costs when refurbishing your hotel function centre - BMT Tax Depreciation
With the end of year approaching, hoteliers might be considering upgrading or renovating a function centre - it’s important to be aware of their tax entitlements, including property depreciation.
Owning and operating a hotel with a yachting or marina service can be costly with upgrades, repairs, maintenance and storage expenses. Depreciation deductions can help to offset this expenditure, according to BMT Tax Depreciation.
How to maximise your cash flow during the off-season
One of the best ways to maintain a healthy cash flow during this time is to have a tax depreciation schedule prepared for the property according to BMT Tax Depreciation
"When arranging a depreciation schedule for a pub, a specialist quantity surveyor will perform a site inspection to uncover all available deductions," BMT Tax Depreciation
BMT Tax Depreciation have advised that boutique hotel investors may be eligible for thousands of dollars in property depreciation deductions, a non-cash deduction, meaning hoteliers don’t need to spend any money in order to claim it.