BGL launches automated depreciation service
BGL Corporate Solutions has developed a new service in collaboration with CoreLogic RP Data that will provide SMSFs with depreciation schedules for residential and commercial property.
The service will enable BGL clients to request depreciation schedules through their BGL Simple Fund software, said BGL managing director Ron Lesh.
“The schedule will flow back into Simple Fund and with a PDF automatically attached to the appropriate fund,” he said.
Mr Lesh noted the latest ATO statistics show around 17 per cent of SMSF assets are held in property.
“We also know that over 80 per cent of property investors fail to claim the full amount of depreciation,” he said.
“This new service means our clients SMSFs will now always get the maximum allowable depreciation deductions for all properties without the need for tedious manual calculations.”
Mr Lesh said this latest service follows a number of other CoreLogic RP data integrations with its Simple Fund software including residential, commercial and rural property valuations and land title searches.
“These services greatly improve our clients' SMSF processing efficiency and greatly assist with the preparation of their SMSFs for audit.”
