Depreciation Calculator

Depreciation Calculator

Investors can claim depreciation on the building and plant and equipment, including their share of common property. A depreciation schedule from a qualified quantity surveyor maximises legitimate deductions.

What it covers

• Capital works (building) deductions
• Plant and equipment within the lot
• Share of common property assets
• A schedule for your accountant

When you need one

• After purchasing an investment property
• After renovations or capital works
• If you have never claimed depreciation

How depreciation works in Australia

• Capital works (Division 43) – residential buildings constructed after 15 September 1987 can generally be claimed at 2.5% of the construction cost each year for 40 years
• Plant and equipment (Division 40) – items such as hot water systems, air-conditioners, carpets and appliances are claimed over their effective life
• For second-hand residential properties bought after 9 May 2017, previously used plant and equipment generally cannot be claimed – capital works deductions still can
• Your share of common property assets is included in your schedule

This is general information only, not tax advice. Speak with your accountant and see the Australian Taxation Office for your circumstances.

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