Free depreciation rate app released

Confused about depreciation rates for your assets? Fear not: there’s an app for that. BMT Tax Depreciation has developed an app to assist accountants in determining the effective life and depreciation rate for any plant and equipment asset.

“In today’s fast-paced world it can be difficult for accountants to stay on top of every update the Australian Taxation Office (ATO) releases,” said Bradley Beer, managing director of BMT Tax Depreciation.

“As specialist quantity surveyors and the leading provider of property tax depreciation schedules Australia-wide, BMT stays accurately informed on the latest legislation advice announced by the ATO. We wanted to share this knowledge in a simple and easy-to-use format.

“Rate finder is a great tool which will help accountants to stay informed, add value to their existing service and provide them with additional necessary information required when they are lodging a depreciation claim as part of their clients’ tax returns.”

The BMT Rate Finder App allows accountants to search by industry or asset to find out the effective life of any asset as well as the depreciation rate for the asset using both the prime cost and diminishing value methods of depreciation.

Available for free, the Rate Finder App can be downloaded for either iPhone or Android phone by visiting www.bmtqs.com.au/rate-finder-app-support. Alternatively, Rate Finder is available to use on the BMT Tax Depreciation website: www.bmtqs.com.au/depreciation-rate-finder.