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What is Depreciation

 

Depreciation is the amount of money you can “write-off” (claim as expensed or used up) against the value of any assets used in the course of producing assessable income.

 

In the case of property investors, investors may offset their taxable income against expenditure on plant and equipment used to produce assessable income.

 

Plant and Equipment includes items such as Ovens, Dishwashers, Carpets Blinds, Lifts, etc. The ATO provides specific guidelines as to how these write-offs are to occur.

 

Who Can claim the Depreciation?

 

Depreciation can be claimed by the owner of the Plant and Equipment, the one who is earning income from the use of these items.

 

Tax Depreciation For Investment Properties Presentation