Property Depreciation Schedules - The New reality

Budget Changes to Depreciation

The 6 must-know takeaways from these budget changes: For residential property, you will only be able to claim depreciation on plant and equipment items (ovens, dishwashers etc.) when you buy a brand new property.  You will still be able to claim the building allowance (bricks, concrete etc.) on any residential property built after 1987. If […]

Finally, Some Clarity

On Friday 14th July, the Treasury Office released a draft bill regarding how depreciation deductions on a second-hand property can be claimed moving forward. They also invited interested parties to make submissions. It’s complicated, to say the least, so I’ve tried to simplify this Bill and the key points. Here are my 9 Key Takeaways […]

The Property Market Limbo: Depreciation Solution

The property market is currently in a state of limbo, particularly those involved in the selling of new property. Why? Because budget statement in relation to helping “reduce pressure on housing affordability” has potentially changed the game and announced dramatic changes to the way depreciation is claimed on property. Let’s start with the good news: […]