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What is Depreciation?

Depreciation is a tax deduction available to property investors. It allows you to claim a tax deduction for the wear and tear over time on most old or new investment properties. Basically, it recognises that the building itself, plus its internal furnishings and fittings, will become worn over time and eventually need to be replaced. Up-to-date with ATO changes, the Washington Brown TaxMax500™ covers over 500 variables, so literally no stone, brick or smoke alarm is left unturned.

There are two types of allowances available:

  • Plant and Equipment - refers to items within the building, like ovens, air conditioners, carpets and blinds
  • Building Allowance -cd constructions costs of the building itself, such as concrete and brickwork.

IIn terms of building allowance, it doesn’t matter that you may not have paid for the works originally - you, as the current owner, can continue to claim deductions as they continue to depreciate in value.

Our ATO compliant reports show the building allowance as well as a detailed list of all eligible plant and equipment items. Your yearly amount claimable is then pro-rated to your settlement date and provided for up to the next 40 years.

As with any tax deduction, property depreciation reduces your taxable income. That means more money in your pocket to reinvest in your property or spend on yourself or your family.

As property investors, you want to get the most from your annual tax return. As industry leaders in property depreciation, we guarantee you the maximum tax depreciation on your investment property every time.

Learn more about Property Depreciation Schedules

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Estimated Results

Years Diminishing Value Prime Cost
Year 1 $0.00 $0.00
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