Tax Depreciation Schedule

Did you know can also claim the depreciation of your investment property against your taxable income? There are two types of allowances available:

Building Allowance.

Building Allowance refers to the costs of the building itself, such as concrete and brickwork. Both these costs can be offset against your assessable income.

Depreciation of Plant and Equipment

Plant and Equipment refers to items within the building like ovens, dishwashers, carpet, light fittings, blinds etc.

Renovated property?

You can still utilise the tax allowance. You would need to outline how much you spent on renovations. This is an ATO obligation.

Even if the previous owner completed the renovations, you can still be entitled to claim depreciation. If the cost of renovation is unknown, talk to your CIA Real Estate agent we are fully qualified to make that estimation. We encourage you to use the Depreciation Calculator.If you would like to learn more about Property Depreciation in general, please read Property Depreciation Schedules