Property Depreciation Schedules - The New reality

Stimulus Package nothing to sneeze at

The Morrison Government has today announced a $17.6 billion economic plan to keep Australians in jobs, and to keep businesses in business in light of the Coronavirus pandemic.

The Government has outlined an increase of $700M to the instant asset write off threshold from $30,000 to $150,000, and has also expanded eligibility to businesses with a turnover of less than $500M (up from $50M).

Put simply, if you were to buy carpet for your office that costs $40k, previously you would have had to depreciate it – now you can simply write it off.

Washington Brown recently refurbished our office for a cost of $202,000 and were able to claim $35,000 in depreciation in the first year. If we’d carried out the same fit-out today, our first-year depreciation would’ve been a much higher $152,000.  That’s a HUGE difference.

The remaining $50,000 relates to capital works items, like painting and plumbing, and will still need to be claimed at 2.5% per annum over a 40 year period.

Quantity Surveyors are experts in breaking down the overall construction cost into individual items and now has never been a more appropriate time to do this.

There are five main points to consider:

  1. Businesses should ensure they have a detailed report of any fit-out costs to be carried out.
  2. When acquiring any new asset, businesses should try to keep the costs below $150,000.
  3. This generous bonus has an expiry date of June 30, 2020.
  4. Assets costing over $150,000 can still be depreciated but not claimed as an outright deduction. Businesses with a turnover of less than $500 million will be able to deduct an additional 50 per cent of the asset cost in the year of purchase.
  5. This accelerated depreciation (point 4) will expire on the 30th of June 2021.

Some examples of what may qualify for an immediate tax deduction include carpet, desks, blinds, work stations and a lighting upgrade.

Whilst we are currently in uncertain times, this incentive aims to assist both your business and the broader economy as well. 

Your Guide to Commercial Property Investment

If you’re looking to invest in real estate, commercial properties present plenty of opportunities. However, you need to consider the risks and market drivers. This commercial property investment guide will help you.

You must think about more than the property investment basics when investing in commercial real estate. There are many complex market issues at work, which means you take on more risk.

Understanding these issues will play a role in the success of your investment in real estate. Commercial properties come in all shapes and sizes, which you must account for. This commercial property guide will equip you with the tools you need to succeed.

The Market Drivers

Several drivers affect the state of the commercial real estate market. You must understand what these drivers are before you can invest successfully. They include the following:

The Risks

There are also several risk factors to consider when you invest in commercial property. Here are some of the most important:

The Lease

A poorly-constructed lease could lead to the failure of your commercial investment. These are the factors to consider when creating your leases:

What Else Should You Consider?

Depreciation CalculatorFurther to this, you need to arrange proper financing for your purchase. Many residential lenders can’t help you with commercial properties. As a result, you may have to locate a specialty lender. Furthermore, you may not be able to borrow more than 70% of the property’s value.

You’ll also deal with a commercial agent, rather than a real estate agent. These professionals specialise in attracting the right businesses to your property. They’ll also help you to create attractive deals for potential tenants.

The Final Word

As you can see, commercial investment is a complex subject. This commercial property guide will equip you with the tools you need to succeed.

The team at Washington Brown can also help you to claim depreciation on your commercial property. Contact us today to speak to a Quantity Surveyor.

Commercial Space Deductions

claiming commercial deductions

Make Sure You Claim All Depreciation on Your Commercial Real Estate

If you’re thinking about buying commercial real estate in Melbourne, you need to prepare yourself. Many people fail to claim the commercial tax deductions in Australia that are due to them. This results in thousands of lost dollars.

You can claim for all sorts of things on your commercial real estate property. For example, you can claim deductions for the wear and tear of your fittings, furniture, and the structure itself. In fact, making the right deductions at the right time can affect cash flow. You can change a negatively geared property into one that enjoys a good cash flow.

So now you’re probably wondering how to maximise depreciation on your commercial investment property in Australia. Our guide will show you how.

Get the Ownership Structure Right

How you buy your commercial property is just as important as the type of property you buy. You need to have the right structure in place if you’re going to claim the maximum depreciation.

For example, you can increase your deductions if you buy the property using a trust. The same is true if you buy with your self-managed superannuation fund (SMSF). In both cases, you can split your deductions. You can make claims on the building as a standalone entity. Furthermore, you can also claim on any tenancy assets. However, you must operate a business in the property to do this. Depreciation Quote Schedule

Furthermore, you can claim for any capital works you undertake during your ownership. These can include extensions and many other general improvements. Finally, if you occupy the building as a business owner, you can also claim depreciation for any fixtures or fittings. Again, you must use these as part of your business operations.

Maintain Your Records

It should go without saying that it’s vital that you maintain accurate records if you want to claim commercial tax deductions in Australia. However, a remarkable number of people don’t do this.

Document every expenditure that relates to the building. These include both the immediate and ongoing costs. Furthermore, you should add day-to-day expenditure to the list. Keep anything that relates to a financial transaction involving your building. These records can help you to claim more.

Use a Quantity Surveyor

Every commercial property investor should employ the services of a quantity surveyor. These professionals can help you to create depreciation schedules. A good schedule ensures you can claim as much as possible on your property.

A quantity surveyor will carry out regular inspections of your property. These help to determine what deductions you can make each year. They’re ideal for long-term planning as well. A good depreciation schedule will lay out how to claim deductions for the next 40 years.

Furthermore, quantity surveyors understand how to maximise your depreciation based on your timeline. You may only intend to invest in the property for a short period of time. That’s okay. A good surveyor will take this into account, just like they would for a long-term investment.

It’s likely your surveyor will recommend the diminishing value method if you’re a short-term investor. This assumes the value of your assets depreciates most during their early years. As a result, you can claim for more depreciation in the short-term.

Depreciation CalculatorLong-term investors may prefer the prime cost method. This assumes uniform depreciation over the lifetime of your assets. As a result, you claim the same amount each year, rather than the bulk in the early years.

Which method works best for you will depend on the time commitment you make to your commercial real estate investment. A good quantity surveyor can talk you through the different timelines.

Take Advantage of the First Year

Your first year of ownership is vital. It’s when you will set up the structure through which you will manage your commercial property for the years that follow. Getting things wrong during the first year makes things more difficult than they need to be later on.

However, you also need to take depreciation into account from the moment you invest in the property. This is where your quantity surveyor can help again. You may be able to depreciate some of your assets faster with a commercial property than you would a residential one. Your surveyor will point this out to you. As a result, you can make more upfront savings using depreciation, which means you have more cash to use during that difficult first year.

The Final Word

Maximising your depreciation from a commercial property isn’t easy, but you can do it. Use the services of a reputable quantity surveyor and don’t put anything off.

Remember that you can make claims for depreciation from the moment you invest in the property. Don’t lose money because you were slow on the uptake.

How will Donald Trump impact Australian property?

What does Trump’s election victory mean for Aussie real estate?

Since the US election, there’s been endless speculation about what the win from Donald Trump will mean for not only the US, but other countries around the globe.

Would you believe that the predictions for Australia’s property market range from doom and gloom through to uplifting and very positive, including that property prices could rise, property prices could fall, there could be a recession…

But the key here is that it’s all speculation. What will really happen remains unknown, particularly since Trump’s policies seem to be subject to change and we don’t know what will actually be implemented until he’s in office next year. In fact, he probably doesn’t know himself!

Donald TrumpLet’s look at the positive vs. negative case

‘The Donald’s’ election win scared investors and sent shockwaves through the share market, with $32.5 billion wiped from the ASX. It quickly rebounded, however, with more than $50 billion added the following day, the best session since 2011.

Did the confidence of real estate investors take a hit too? Since the real estate market doesn’t see the impact of these events until further down the track, we don’t yet know. However, in the initial aftermath of the election, there has been a case put forward that Trump’s win could actually benefit our market.

It’s all to do with confidence and sentiment. The big positive for Australia in all of this could be an increase in foreign investment. Our country is seen as a safe-haven in the midst of global volatility, which could lead to greater demand for property and hence, push up housing prices. Depreciation Quote Schedule

Some commentators suggest demand from foreign investors could come from the United States itself, with its citizens choosing to either relocate elsewhere (although this is unlikely – just think of all the celebrities who have already reneged on their promises to leave the US!) or simply invest their money in a country they consider to be safer than their own. The US is already one of the biggest sources of foreign investment in Australia’s property market.

Chinese investment in our real estate market is also likely to rise. The case is already pretty compelling for Chinese investors to move their money here; irrespective of Donald Trump they love buying Australian real estate. Australia has long been seen as a safe-haven for Chinese capital. Despite measures introduced to curb foreign investment, Chinese investors continue to buy Australian real estate in large quantities, lured by not only the perceived security of our market but by factors including our lifestyle and great schools. In this sense, the Trump phenomenon could just be another factor strengthening their desire to invest in Australian real estate.

While some Chinese investors seem to indicate they don’t care about Donald Trump and his election to the US presidency, there is an argument that he has “declared war” with China, with promises to tighten trade agreements and increase tariffs on goods imported from China into the United States.

Some economists have argued that Trump’s trade policies could have a very detrimental impact on the global economy, potentially leading the Australian economy into a recession, negatively impacting upon the share market and the property market, which is where price fall predictions come in.

It seems interest rate predictions have already changed since Trump’s election; prior to it there was an expectation of another fall in the cash rate, but now an upward move appears more likely, as Trump’s trade policies could cause global inflation to climb. Combined with a weakened Australian dollar, this could provide an impetus for the RBA to increase the base rate.

Donald TrumpTrump’s real estate interests

Let’s not forget Donald Trump is a real estate tycoon with property developments around the globe. He has built office and residential towers, hotels, casinos and golf courses around the world, perhaps surprisingly, he has towers in countries including Turkey, Panama, India, the Philippines and Uruguay.

While post-election Trump has said he now doesn’t care about his business empire, the fact remains that he clearly has a vested interest in real estate and keeping property markets around the world buoyant – at least where he has properties!

It will, of course, have to be balanced by his responsibilities as the leader of the free world and his determination to do what’s best for the US and its citizens.

Other interesting snippets about Donald Trump and property include:

Donald Trump

Remember it’s all about hypotheticals at the moment

We can all sit here and make claims about what Trump’s presidency will mean for Australia’s real estate market, but the reality is that we don’t know. It’s all speculation, and there’s a lot of misinformation out there too. What will really happen will only be determined in time.

At the end of the day, the fallout will be all about confidence and sentiment. IT will come down to whether people have the  Depreciation Calculatorconfidence to continue investing in the share market versus property, and in the US versus other countries that are perceived to be safer.

It also depends on whether Australians have the confidence to keep investing in Australian real estate. Unless a recession hits, it’s likely they will. Why? Because of the fundamentals supporting our real estate market, including population growth, a stable economy, a strong banking system with tight lending restrictions, and a shortage of properties in some areas.

Any deterioration in confidence will likely be short-lived, just like Brexit.

As time goes on the initial shock will subside. The protests will eventually come to an end, and it’s likely Trump’s presidency will be more measured than people expect. Which should translate to sentiment being restored in the long term.

Property prices in the UK have indeed defied all the naysayers’ post-Brexit, being up by 7.7% over the past year according to the latest figures.

With everything being just predictions and speculation, how about we add another to the mix: Maybe the best course of action is to go and buy some shares in Boral so you can benefit when the wall is built along the Mexican border?

Increase Cash Flow with these Depreciation Tips

Property depreciation tips

Claiming depreciation is one of the most important steps in an investor’s journey. Here’s my Top 5 Tax Depreciation tips to maximise the return on your investment property.

Number 1: Use an Experienced Quantity Surveyor

You’ve just paid hundreds of thousands of dollars for a property. Do you really want to risk missing out on tens of thousands of dollars in deductions just to save a couple of hundred tax deductible dollars on the ONLY tax break available to you that can be open to interpretation and skill?

The ATO has identified quantity surveyors such as Washington Brown as appropriately qualified to estimate the original construction costs in cases where that figure is unknown. The laws have also changed frequently over the years and each building is unique, so it pays to get expert advice. The ATO requires all companies who prepare Tax Depreciation Schedules to be registered Tax Agents.

Number 2: Claiming the Residual Value Write Off

I believe millions of dollars will be missed over the coming years in tax depreciation claims due to changes in what can be defined as ‘plant and equipment’.

Depreciation Quote Schedule

If you are renovating a kitchen or bathroom in a property built after 1985 – get a quantity surveyor in before you demolish so they can assess what the residual value of the existing items are. This residual value can be claimed as an outright deduction and can generate huge savings in the first year (The plant and equipment component of this may now be considered a capital loss rather than deduction from your personal income taxes due to recent Budget changes).

For instance, a rental property with a 20 year-old kitchen could possibly attract an immediate deduction of around $5,000 if removed.

The added bonus is that you get to claim depreciation on the new work once it is complete too!

Number 3: Small Items and Low Value Pooling

(NOTE: Deductions for these plant and equipment items may only apply if you bought the property prior to May 9, 2017 – Read about the Budget changes here).

A dollar today is worth more than a dollar tomorrow so deduct items as quickly as possible.

Individual items under $300 can be written off immediately. An important thing to remember here is that provided your portion is under $300 you can still write it off.

For instance, say an electric motor to the garage door cost an apartment block $2000. If there are 50 units in the block, your portion is $40. You can claim that $40 outright – as your portion is under $300. You can also try to buy items that depreciate faster such as purchasing a microwave that costs $295 as opposed to one that costs $320.

Items between $300 and $1000 fall into the Low Pool Category and attract a higher depreciation rate. So for instance, a $1200 television attracts a 20% deduction whilst a $950 television deducts at 37.5% per annum.

Number 4: Old Properties Depreciate too

Even properties built before 1985 (when the building allowance kicked in) are worth depreciating.

Depreciation Calculator

The purchase price of your property includes the Land, Building and the Plant and Equipment. As a quantity surveyor we help you apportion or break down the purchase price into those categories.

In about 99% of cases we find enough plant and equipment items to justify the expense of engaging our firm (for ‘Pre-Budget’ properties). At Washington Brown we guarantee to save you twice the fee of engagement or your report will be free!

Number 5: Use the Washington Brown Tax Depreciation Calculator

The saying goes “if only I knew then what I know now!” When it comes to depreciation, you can. Investors can use our website, free of charge, and get an instant estimate of the likely tax depreciation deductions on a property before they buy it.

This calculator uses real life data collated from every inspection we do on behalf of our clients. So the data gets more accurate with time.

For more information on depreciation or to discuss your specific investment property, call us on 1300 990 612 or email sales@washingtonbrown.com.au. Tyron Hyde is a director of Washington Brown – The Property Depreciation Experts. He has a degree in construction economics and is an associate of the Australian Institute of Quantity Surveyors.

What’s Your Real Story Tyron Hyde?

tyron hyde

CLAIM IT! – Wall Street has been for years!

Well, to be honest, I actually wanted to be an architect – but didn’t get the marks.

My brother-in-law, who was a property developer, saw that I liked construction and that I was good at maths so suggested that Quantity Surveying might be a good fit.

The year was 1989 and off I went to UTS for a couple of years. Depreciation Calculator

But, for those of you too old to remember the late 80’s, interest rates were at 17% and property development ground to a halt.

So like many other hordes of Aussies I thought I’d see the world and went backpacking through Europe.

On this journey I quickly learnt that working for the minimum wage was not the future I aspired too.

One day while walking to a fairly crappy part time job on a dark winter’s day in London, I calculated that the cost of travel, a packet of cigarettes (I’m an ex-smoker – one of those annoying ones) and a can of coke was equivalent to my daily take home pay and right there and then I decided it was time to come home.

I was 22 and thought I was TOO OLD to get into the property industry. (Now I get CV’s from 22 year olds and think they are kids!)

But I did go back to Uni.

And about halfway through the year I saw some ads around Uni call for a “Cadet Quantity Surveyor for Washington Brown”.

Wow, I thought that sounds like a big company. Depreciation Quote Schedule

So I ran around campus and ripped down all the flyers that had been spread throughout the Uni.

Surprisingly I was the only one that turned up for the job.

More surprisingly was that Washington Brown wasn’t a big company – It was a one man band run by Mr. Antony Brown.

I was desperate to get into the industry – so I offered to work for a year for free.

Which I did and can now say proudly that I own the company and we are far from a one man band!

That’s my story – What’s yours? I’d love to hear in the space below.

Investment Property Depreciation Tips

investment property depreciation tips

Property Investment Tips

How to save THOUSANDS OF DOLLARS a year on your investment property taxes with these 7 Property Depreciation Tips!

Depreciation can still be a bit of a mystery to even the most experienced of property investors. To novice property investors it most certainly always is.

To simplify depreciation, basically, it allows you to claim the wear and tear of an investment property as a tax deduction against your income. Depreciation Calculator

There are two components to this claim; Building Allowance (bricks, concrete, etc.) and Plant & Equipment (carpets, ovens, etc.).

(UPDATE: Deductions for plant and equipment items may only apply to commercial properties, brand new properties, if you bought the property prior to May 9, 2017, or some other exceptions – Read about the Budget changes here).

As Quantity Surveyors, we categorise elements of the building into a “Depreciation Schedule” which allows you to legally claim the right deductions come tax time.

Simple right?

Well here are seven tips you may want to consider this tax year to increase the yield on your investment property:

  1. Small Items and Low-Value Pooling – A dollar today is worth more than a dollar tomorrow so deduct items as quickly as possible.Individual items under $300 can be written-off immediately.So if you are buying a microwave for your property – pay $290 instead of $310 and get the full amount written off!You can also try to buy items that depreciate faster. Items between $300 and $1000 fall into the Low Pool Category and attract a higher depreciation rate.So for instance, a $1200 oven attracts a 20% deduction while a $950 TV deducts at 37.5% per annum.
  2. Depreciation reports are tax deductible – Book and pay for a depreciation report before the 30th of June, and you can claim the cost of the report as an outright deduction.On average, property investors can claim between $4,000 to $15,000 in depreciation in the first year alone. The age of the property has a lot to do with why that range is so great. The newer the property, generally, the more depreciation you get.
  3. Renovated properties – You can buy a property that might be over 100 years old…and provided it’s been renovated after 1987 you can claim the costs of those renovations. So even if you didn’t do the renovation, the deductions are there for the taking!
  4. Older properties – It’s true that new properties get the maximum depreciation allowance available to property investors, but don’t discount old properties. The minimum depreciation allowance on any property starts at around $2,000 in the first year alone. Depreciation Quote Schedule
  5. Scrapping reports – If you buy a property and are going to renovate the property, it’s worth getting a Quantity Surveyor like Washington Brown to inspect the property BEFOREHAND. We will attribute values to those items that are about to be removed. This can add up to a substantial amount, especially if the property was built after September 1987. In order to do this, the property has to be income-producing prior to the commencement of the renovation.
  6. Old properties depreciate too – In order to claim the Building Allowance the property needs to be built after September 1987. But, you could still claim depreciation on things likes carpets, ovens and blinds – regardless of the age (if unaffected by the 2017 Budget). Most Quantity Surveying firms guarantee to get you at least twice their fee as a tax deduction in the first year or give you the report for free.
  7. Backdating reports – If you haven’t claimed depreciation because you didn’t know about it – there is good news. You can go back and amend your previous two tax returns and get the missing deductions backdated. It will cost you in accounting fees, but could well be worth it.

If you are a property investor and don’t have a depreciation schedule – get a free quote here.

Or use our free calculator to work out for yourself how much you could be saving!

Property Investment Tricks for the Average Investor

Property Investment Tricks

Property Investment Tricks

These days I like to drop my daughter off to school as much as I can. I know soon enough she’ll be embarrassed of me – so better make hay whilst the sun shines right?

The other day as I was dropping her off, I looked across the road and noticed something strange.

I said to myself “wait a minute…I reckon those two blocks were the spitting image of each other in another life”. Depreciation Quote Schedule

So being the nosey real estate junky I am – I raced to work and did some research on RP Data and Google maps.

Sure enough, back in the day, these two blocks were pretty similar. But now the block on the left leaves its poor cousin for dead!

Being a Quantity Surveyor – I quickly did some maths – I reckon new balconies, render & paint for a block that size probably cost each owner around $65k.

But I’m thinking they’ll get a $120k more each in resale value.

That’s a pretty good return, but I’ll let you into a very little known trick that’ll make that return even better.

If the work carried out was paid for from the sinking fund…the total cost would have been 100% tax deductible.

So, if the body corporate had been increasing levies whilst the work was being planned – the investors in the block would have been able to claim the work as an outright deduction.

However, if the body corporate had to raise a special levy to do the work, most of the work would only be claimable at 2.5% per annum based upon the cost of the work.

That’s a MASSIVE difference to the bottom the line.

If you need a depreciation schedule – get a quote here.

Or work out how much you could claim on your property by using our free calculator.

What Depreciation Rate can I claim on my Property?

depreciation rate

Property Depreciation Rate

Property Depreciation Rates – Timelines to Consider for Residential and Commercial Properties

Property investors ought to know that when it comes to claiming building allowance, there is a maximum amount to go for which is the full 4%. Building allowances, which are Depreciation Quote Scheduledeductions that allow you to claim your investment property’s construction expenses against your taxable income, commonly range from 2.5% to 4%.

I have mentioned where you can get a 4% claim on building allowance with manufacturing buildings and short-term traveller accommodations. But where do we draw the line with residential and commercial properties?

Residential Properties

Do you own a house, unit, or townhouse? If the construction of this residential property commenced within July 18, 1985 to September 16, 1987, you are eligible for a 4% building allowance. Residential properties with dates of construction after this time period can only claim 2.5%. However, because the you can only claim a 4% building allowance for 25 years – if you buy a property today built in 1986, for instance, there is NO building allowance left. It ran out in 2011 (ie. 1986 + 25 years = 2011)

depreciation rate

Property Depreciation Rates

Commercial Properties

Depreciation CalculatorOffice buildings, serviced apartments, shops, and other non-residential properties for commercial and industrial use can also give you the full 4% on one condition. They have to be built within what we call a “window of opportunity”. This window refers to the time frame between August 21, 1984 to September 16, 1987 and it becomes an opportunity to claim 4% if your construction commencement date falls within this period. Anything outside that window can only give you 2.5% in building allowances with July 20, 1982 being the earliest date you can claim.

So these days it’s better to buy a property that falls in the 2.5% timeline – as your 4% building allowance may have been eaten up by now.

If you need a depreciation quote click here or use our free depreciation calculator to work out your potential savings.

Can you Claim Depreciation on Commercial Property?

Hi. I’m Tyron Hyde from Washington Brown. When I first bought this property in the city two years ago, it looked like this. It was ugly, run-down, and in desperate need of some TLC. But the location, the heart of the city, is Depreciation Quote Schedule perfect. So I got a designer to create a new floor plan and hired a builder to carry out the work. It was a substantial fit-out including new paint, carpet, workstations, and partitions. We even installed a new kitchen and a reception area.

At the end of the project, the builder gave us a tax invoice for $200,000. Now, I’ve seen situations where owners take the fit out cost and multiply that by 2.5% per annum. That’s the rate of which you can claim general fit-out costs. Now if I deduct based upon our $200,000 fit-out, I’ll only be able to claim $5,000 as a tax depreciation claim. Instead, I asked the builder to break down the cost relative to the appropriate trade like carpets, air conditioning, workstations, etc. We did apportion part of the builder’s cost such as management fees, each of those trades. And guess what?

Our depreciation the first year alone was $35,000, not 5! That’s where knowing the construction costs and tax law together could make a world of difference. So there you have it! From this to this! Yes it was expensive but being able to claim $35,000 depreciation in one year alone was a significant boost.

To learn more about commercial property depreciation follow the link.

Or get a quote for a depreciation schedule by click here

claim depreciation on commercial property

Can you claim depreciation on commercial property?

Hi. I’m Tyron Hyde from Washington Brown. When I first bought this property in the city two years ago, it looked like this. It was ugly, run-down, and in desperate need of some TLC. But the location, the heart of the city, is Depreciation Quote Schedule perfect. So I got a designer to create a new floor plan and hired a builder to carry out the work. It was a substantial fit-out including new paint, carpet, workstations, and partitions. We even installed a new kitchen and a reception area.

At the end of the project, the builder gave us a tax invoice for $200,000. Now, I’ve seen situations where owners take the fit out cost and multiply that by 2.5% per annum. That’s the rate of which you can claim general fit-out costs. Now if I deduct based upon our $200,000 fit-out, I’ll only be able to claim $5,000 as a tax depreciation claim. Instead, I asked the builder to break down the cost relative to the appropriate trade like carpets, air conditioning, workstations, etc. We did apportion part of the builder’s cost such as management fees, each of those trades. And guess what?

Our depreciation the first year alone was $35,000, not 5! That’s where knowing the construction costs and tax law together could make a world of difference. So there you have it! From this to this! Yes it was expensive but being able to claim $35,000 depreciation in one year alone was a significant boost.

To learn more about commercial property depreciation follow the link.

Or get a quote for a depreciation schedule by click here

claim depreciation on commercial property

Can you claim depreciation on commercial property?