Tax Depreciation
Tax depreciation is a tax deduction claimed for the natural wear and tear of an income-producing building and its assets over time. It is generally the second biggest tax deduction for property investors, after interest.
Why Should You Claim?
Claiming tax depreciation reduces your taxable income, meaning you pay less tax. You may be eligible for thousands of dollars in depreciation deductions each year.
Who Can Claim?
Tax depreciation deductions are available for both residential investment properties and commercial buildings. Most properties, new and old, have depreciation available.
What can you Claim:
You don’t need to spend money to claim tax depreciation. Tax depreciation deductions are split into two categories:
Div 43: Capital works deductions
Div 40: Plant & equipment depreciation
If you would like assistance with arranging a Tax Depreciation Schedule, please contact your Property Manager.
If you have any questions, or need clarification on any of the above, please contact Anna Marten, our Head of Property Management, on 9651 1666 or anna@guardianrealty.com.au.
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