Rental Depreciation Claim

3rd May 2018 |

Are you a property investor claiming depreciation as a deduction? If so, do you know that there is a new amendment relating to depreciation claims of second hand assets?

These changes are to apply from the 2018 financial year onward and they seek to prevent property investors from claiming depreciation under following circumstances:

•          If the asset has been used by another taxpayer prior to the current taxpayer ‘s ownership

•          If the asset was used in the current or prior year in the residential premises which was the residence of the current tax payer at that time


•          If the asset was used as a non- taxable purpose in the present year or a prior year, unless it was used occasionally

Please contact us to determine if you are affected!