Tax Depreciation & Investment Properties - The 5 Fundamentals

1.Old Properties can also benefit depreciation. It is worth enquiring with your Accountant what can be depreciated if your property is older.

2.The ATO has stated that any property eligible for capital works deductions will enable investors to claim up to 40 years of property depreciation (from date of completion)

3.Renovations by previous owners can also be included in the calculations (see a Quantity Surveyor) i.e. Plumbing, Waterproofing, Electrical wiring etc.

4.What can be included in the Depreciation Schedule? Plant & Equipment i.e. things that can be removed from the property and Capital Works i.e. items permanently fixed to the structure of the building.

5.Use a qualified Quantity Surveyor to estimate construction costs and advise on depreciating schedules.

For more information on advertising your Investment Property and Self Management, please visit www.realrenta.com
Jason Gwerder
Friday, 4 December 2015

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