This Tax Depreciation Calculator provides you with a ready estimate of the possible deductions claimable for all types of residential investment property. For a full and complete analysis we suggest that you order a full Property Depreciation Report which provides a comprehensive analysis of your property, fit-out and contents with a detailed investment depreciation schedule you can use year-on-year.
Property Tax Depreciation (or 'Property Allowances') are deductions often overlooked by property owners. They can almost always reduce your taxable income, slash your tax bill and put more cash in your pocket! It's all based on two allowances:
Depreciating Assets (Plant & Equipment Items): Capital Allowances (Division 40).
These are items that lose value more quickly - such as carpets, lifts and whitegoods. Many property owners claim up to 20% of the property's purchase price as depreciable assets.
Building Allowances: Capital Works (Division 43).
Depending on when your property was built, you may be eligible to claim a deduction for part of the original construction or refurbishment costs.
Our depreciation calculator will give you a rough idea of what you may be eligible to claim. The estimates are not to be used for taxation purposes. A claim would be dependant on the property owners individual tax position.