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Tax Depreciation and Property Investments

By Michael Walkden

A super important schedule no property investor should overlook.

In short, when a property generates income and tax is paid on the income received the ATO permits a tax deduction known as depreciation.

We highly recommend obtaining advice and guidance from your accountant as there are many variables, subject to your individual circumstances and rulings by the ATO.

A quantity surveyor would be required to attend the subject property and they would produce a depreciation schedule outlining what may be claimed. Each property may produce vastly different potentially deductions with factors such as the property (construction), age, improvements plus fixtures and fittings which make up claimable items.

This schedule is then applied to your taxable income and the amount relevant in the schedule can be claimed to offset income;

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