Claiming Depreciation On Your Property
By DFJ Real Estate

You can claim depreciation on the structure of a property and any fixed items, such as the roof, walls, doors, kitchen cupboards, bathroom tubs and toilet bowls. You can also claim depreciation on plant and equipment or the fixtures and fittings within a property that can be easily removed, such as carpet, window coverings, dishwashers, lights, air-conditioners, swimming pool filtrations and cleaning systems, appliances, hot water systems, smoke alarms and ceiling fans. Each depreciating asset can have a different life span and deprecation rate.

To claim depreciation, you will need a property depreciation report (also known as a depreciation schedule) from a quantity surveyor, which will outline the depreciation that you can claim on your investment property in detail.

It's crucial to understand that various legislation requirements, rules, time periods, and guidelines are associated with claiming depreciation. Once again, seeking professional advice is essential to ensure you are doing everything correctly.