A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

[smartcode_project:default project_id=134951 project_image_fid=5829]

Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

[smartcode_project:default project_id=134951 project_image_fid=223737]

Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

[smartcode_project:default project_id=134951 project_image_fid=5827]

La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

[smartcode_project:default project_id=134951 project_image_fid=223727]

La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

[smartcode_project_cta:default project_id=134951]

Staff Writer

La Vera delivers a nature-connected address within Macquarie Park’s core

<a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.

Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.

At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe>

The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292861]

The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.

Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;

“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.

"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."

[smartcode_project:default project_id=30959 project_image_fid=310337]

Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.

At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.

[smartcode_project:default project_id=30959 project_image_fid=310337]

This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.

With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.

From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.

[smartcode_project_cta:default project_id=30959]

Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.

Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.

The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.

The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" />

The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.

Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.

In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.

“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.

They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.

“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" />

Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.

Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.

Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.

Joel Robinson

First look: Old Burleigh Road apartment development wave continues

Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.

Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.

Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" />

There will be a mix of one- to four-bedroom apartments.

The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.

“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”

Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.

“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”

<img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" />

In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.

Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.

First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.

Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.

In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.

The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”

In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.

<img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" />

Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”

"The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."

DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.

"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."

<img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" />

The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.

The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.

The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.

<img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" />

There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.

Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.

He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.

First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

Property Depreciation

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Domain senior research analyst Nicola Powell says House 5 at the Blighton Block 2020 auction could have what it takes to win – given it has the largest depreciation schedule of all the houses.
“I think House 5, while it may polarise buyers because of its strong design influence from the ’50s, I think it could be the dark horse because it’s got the biggest tax depreciation schedule for any astute investor,” Dr Powell told Domain.
It was the decorating prize wins that Jimmy and Tam racked which saw them have the most money to spend on items including furniture and appliances.
Their big win was the high-end Gaggenau kitchen.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/12/Jimmy%20Tam%202.jpg" alt="">
Powell says their decor which maybe a bit polarising – the fuzzy peach wall and the stark front garden – could easily be changed by buyers with different tastes.
BMT Tax Depreciation work with The Block each year to estimate depreciation deductions for the properties. 
"Like the ones that came before, this season of The Block produced millions in deductions," Bradley Beer advised.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/12/Jimmy%20Tam%203.jpg" alt="">
"BMT found more than a whopping $14 million dollars in estimated depreciation deductions from this year’s Block properties. 
"The average total depreciation claim for each property is estimated to be almost $2.9 million."
Serial challenge winners, Jimmy and Tam, renovated the 1950’s property at 360A New Street, with BMT having estimated that the maximum total depreciation deductions available from this property would be over $3.2 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/12/Jimmy%20Tam%204.jpg" alt="">
 
"In the first year alone, it is estimated that an investor could claim a maximum deduction of more than $146,000."
Fan favourites, George and Sarah, came in close second with their property fetching an estimated maximum total depreciation deduction of $3.19 million.  
The major selling point for investors is that they can take advantage of the millions of dollars in depreciation deductions for forty years.
PREVIOUS BLOCK WINNERS 2003 - BONDI – Adam &amp; Fiona, $256,000 2004 - MANLY – Jamie &amp; Andrew, $178,000 2010 - VAUCLUSE – John &amp; Neisha, $305,000 2011 - RICHMOND – Polly &amp; Waz, $115,000 2012 - SOUTH MELBOURNE – Brad &amp; Lara, $606,000 2013 - ALL STARS (BONDI) – Phil &amp; Amity, $395,000 2013 - SKY HIGH (SOUTH MELBOURNE) – Alisa &amp; Lysandra, $395,000 2014 - FANS v FAVES (ALBERT PARK) – Steve &amp; Chantelle, $736,000 2014 - GLASSHOUSE (PRAHRAN) – Shannon &amp; Simon, $435,000 2015 - TRIPLE THREAT (SOUTH YARRA) – Darren &amp; Deanne, $935,000 2015 - THE BLOCKTAGON (SOUTH YARRA) – Dean &amp; Shay, $755,000 2016 - THE BLOCK 2016 (PORT MELBOURNE) – Will &amp; Karlie, $815,000 2017 - THE BLOCK 2017 (ELSTERNWICK) – Josh &amp; Elyse, $547,000 2018 - THE BLOCK GATWICK (ST KILDA) – Hayden &amp; Sara, $645,000 2019 - THE BLOCK OSLO (ST KILDA) – Tess &amp; Luke, $730,000
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jchancellor-FAypfDUnLy

Jimmy and Tam's Brighton Block house comes with largest depreciation schedule windfall for investors

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Property investors are set to save time and money through the launch of the first-ever <a href="http://www.nationaldepreciationregister.com.au/" target="_blank">National Depreciation Register</a> (NDR) in Australia. 
The NDR, revealed as one of two major announcements by one of Australia’s oldest quantity surveying organisations, Washington Brown, at its Surprise 40th Birthday on February 23 at the Australian Museum, is an established database that includes most residential apartments in Australia and their depreciation costs.
The firm has made use of the extensive data it has accumulated over the past 40 years to create the NDR, which property investors will be able to access online, searching for their property in seconds and downloading a report quickly, after selecting the right affordable package for their needs.
The NDR was established in response to the changes to depreciation in the Federal Budget last year, which saw depreciation claims for second-hand residential properties purchased after May 10, 2017 limited to building allowances, with plant and equipment allowances no longer able to be claimed.
The changes left many property investors feeling confused about what depreciation costs they can claim moving forward, but the NDR provides a quick and easy way to find out for each property.
While investors will still need a property inspection to prepare a depreciation schedule for a house or a property purchased before May 9, 2017, it may not be required for apartment purchases after this date. You may simply be able to jump online to the NDR and get a report that way, without an inspection.
If you purchased a residential second-hand apartment after May 9, 2017, Washington Brown most likely already has the costs for your property on file, as you’ll only be able to claim deductions for building allowances. You don’t need to pay for an inspection, as the firm already knows the construction costs associated with your unit.
This is the first-ever NDR, so there has never been a faster, easier and more affordable way for property investors to claim the maximum depreciation costs for their investment property, maximising tax returns and putting more money back into their pockets.
To try it out and find your property depreciation report, visit <a href="http://www.nationaldepreciationregister.com.au" target="_blank">www.nationaldepreciationregister.com.au</a> .
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jrobinson-rf4aSBido9

First-ever National Depreciation Register launched by Washington Brown

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Tyron Hyde expects property investors may start looking into commercial and other forms of non-residential property following the passing of Federal Budget legislation on depreciation claims.
The chief of Washington Brown also expects investors will be looking into different structures to acquire the property – like companies, that have not been affected.
Parliament has passed the legislation yesterday which changes how depreciation deductions on a second-hand property can be claimed. 
Hyde says the six key takeaways from the legislation are:
1.   If you acquire a second-hand residential property after May 10, 2017, which contains “previously used” depreciating assets, you will no longer be able to claim depreciation on those assets.
2.   Acquirers of brand new property will carry on claiming depreciation exactly the way they have done so to date. This is great news for the property industry and the way it should be.
3.   The proposed changes only relate to residential property. Commercial, industrial, retail and other non-residential properties are not affected in the slightest.
4.   The building allowance or claims on the structure of the building has not changed at all. You will still need a Depreciation Schedule to calculate these deductions. This component typically represents approximately between 80 to 85 percent of the construction cost of a property.
5.   The proposed changes do not apply if you buy the property in a corporate tax entity, super fund (note Self-Managed Super Funds do not apply here) or a large unit trust.
6.   Perhaps the most interesting point: Whilst investors purchasing second-hand property can now no longer claim depreciation on the existing plant and equipment, they will have the benefit of paying less capital gains tax when they sell the property.
Tyron Hyde suggests while there has been some merit in regards to these changes, "a more balanced approached would’ve been more suitable."
"These changes will create a two-tiered property market in my view, where investors selling near-new property will struggle to compete with those selling new property.
"Developers should be dancing in the street, as there stock is now more appealing to investors.
"I suspect investors may start looking into commercial and other forms of non-residential property and also looking into different structures to acquire the property – like companies, that have not been affected."
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j.ballantyne1990-6AQqhLzZaK

Depreciation legislation will change investor property preferences and help developers: Tyron Hyde

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With tax returns on the way it's time to think whether the 2017 budget has affected your depreciation returns.
This could be important and is something that every property investor needs to know.
Download this <a href="https://washingtonbrown.pages.ontraport.net/budgetchanges" target="_blank">eBook</a> to find out how you can find out what your depreciation returns are.
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po-LsXgBTHBmX

Has the 2017 budget affected your depreciation returns: Washington Brown

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The federal budget’s proposed changes on investor property tax claims relates mostly to residential properties and there is “absolutely no change” for commercial properties, according to quantity surveying firm Washington Brown’s CEO and director Tyron Hyde.
The government targeted only residential property investors because of the huge price increases mainly in Sydney and Melbourne that has raised question marks on housing affordability.
So offices, industrial and retail properties were let off. 
However, the budget did leave the Division 43 deductions untouched, says Hyde. 
“What does that mean? Well, as I said before, there’s two components of a depreciation schedule. There are the plant and equipment and there’s the building allowance. The building allowance is the structure,” Hyde told his audience at a web event.
Depreciation allows you to claim a tax deduction for the wear and tear on an investment property over time, but the Federal Budget foreshadowed an amendment. 
Investors can still continue to claim brickwork, concrete, the roof, the scaffolding even if a property is bought after the changes come into effect.
But he added that there was confusion in the market as to whether these changes affect the new property, or is it just secondhand property? 
“No one knows. I’ve been in meetings with other Quantity Surveyors firms and really, we are unsure. I’ve written to Treasury and asked them for their guidance as to whether new property can still continue to claim the depreciation of plant equipment, and I got the usual response, ‘We’re formulating this budget measure …,” said Hyde.
Quantity surveyors Leary &amp; Partners Investors echoed similar sentiment earlier, the budget had stripped investors buying second-hand residential properties of a major tax deduction.
Hyde said many peopler are buying new properties but are unsure of their depreciation claims because of the fog around the rules.
The budget statement said, “Acquisitions of existing plant and equipment items will be reflected in the cost base for capital gains tax purposes for subsequent investors.” 
Now the key is here “existing plant and equipment items”, said Hyde. 
This clearly means if it’s a secondhand property it’s an existing item, “but if an investor buys a brand new property that’s being finished, but only two weeks old, is that an existing plant and equipment item?” he asked.
There's even less clarity for properties off the plan where construction hasn’t even begun. 
The question to be asked here is if that is existing also because a contract has been entered into.
“What happens if I flip that property in three years time, who can claim those existing plant and equipment items? It wasn’t clear in saying brand new property’s okay, a secondhand property is not and that’s why there’s confusion in the market,” <a href="https://washingtonbrown.pages.ontraport.net/budgetchanges" target="_blank">asks Hyde</a>.
While these questions remain, the bad news is definitely for a secondhand property, he says because investors will not be able to claim depreciation on things like ovens, dishwashers, lights, air-con, television sets, blinds, carpets, all those depreciable assets.
If the property belongs to a high rise apartment tower, investors can not also claim for the common property items such as lifts, smoke detectors, an investor’s portion of the common carpet in the hallway, garage motor doors, etc.
So all those kind of equipment items will in the future be part of the cost phase. 
In order to claim the building allowance, you’ll still need to work out what the actual cost of construction of the structure is, he says. 
“The problem is that it’s going to be less.”
When building a house, roughly probably about 15% of the construction costs of a unit or a house relates to the plant and equipment of a building, that’s the ovens, dishwashers et cetera. The other 85% relates to the construction cost of the structure of the building. 
“It’s got a massive difference in the overall claim that you’ll be able to make over 40 years. The main difference is in the early years, and that’s when a property investor needs those claims,” he says.
So for a brand new unit bought for $850,000, the first year claim pre-budget will be about $20,000. However, post budget, if the property is not allowed, it will be about $9,000. 
The second year $17,000, the second year post budget $9,000. 
After 10 or eight years, when the rent’s gone up the big deductions count for less, but in the early years they matter a lot, Hyde says. 
 
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Grey areas in budget on building plant and equipment depreciation tax claims: Washington Brown's Tyron Hyde

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<img src="https://www.urban.com.au/images/2016/10/14/image001-4.png" alt="">
Depreciation is basically a tax deduction available to property investors across Australia.
Depreciation allows you to claim a tax deduction for the wear and tear on an investment property over time.
This tax deduction recognises the fact that the building itself, as well as its plant and equipment will become worn out over time and eventually need to be replaced.
It doesn’t matter that these items were paid for by someone else – the developer or prior owner – as you, the current owner, can claim deductions as they continue to depreciate in value.
To learn more about depreciation, download our handy guide.
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