As an investor, you may have recently come to terms with depreciation and may have been unaware that you were entitled to claim deductions on your rental property. You may have thought your property was too old when it actually qualifies for depreciation – act now before it's too late! Besides the ATO allowing
As a result of the recent changes from the Federal Budget 2017, claiming depreciation on renovated properties has vastly changed. Prior to the recent law changes, landlords were entitled to claim depreciation on pre-existing plant and equipment and any renovations that were carried out by the previous owner. As the new legislation has passed,
With legislative changes well sunken into the property market, it is important to visit the pattern as an investor moving into future years. Legislative changes imposed on the 9th of May 2017, no longer allows property investors to claim what is known as Division 40 depreciable assets on previously used assets for RESIDENTIAL properties.