Tax Depreciation Schedule

Tax Depreciation Schedule

If you own an investment property, you are entitled to claim depreciation on the building, fixtures and fittings. A lot of property investors are unaware of the significant taxation benefits associated with getting a Tax Depreciation Schedule. These schedules can save you thousands of dollars each year, and can therefore maximise your investment cash flow for years to come.

Depreciation is a non-cash deduction – this means that you are able to claim a tax deduction without incurring any cost.

Please see below for a list of Qualified Quantity Surveyors:

Tax Depreciation Reports and Schedules


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Frequently Asked Questions

Doesn’t a schedule only apply to new buildings?

Any building where construction started after July 18, 1985 qualifies for the ‘Special Building Write Off’. That means you can depreciate the original cost of construction. For all buildings, there are a host of Depreciable Assets like hot water services, blinds, floor coverings and stoves that may be depreciated.

Can I claim renovations?

Yes. The ‘Special Building Write-off’ can be claimed as long as the renovations were undertaken after February 26, 1992. You can ALSO claim Architects and Engineers fees. Structural inclusions such as retaining walls and sealed driveways, if undertaken after this date also qualify.

What if a previous owner did the renovations?

It doesn’t matter who commissioned them. You are the current owner of that property so you can depreciate those renovations.

Will I need a new schedule each year?


What if I’ve owned a property for a few years and haven’t claimed depreciation?

Don’t worry, you haven’t lost it forever. Tax Depreciation Schedules can be backdated and we can lodge an amended assessment to claim that prior depreciation.