As a building gets older and items within it wear out, they depreciate in value. The Australian Tax Office (ATO) allows owners of income producing property to claim a tax deduction called depreciation, on a building’s structure and plant and equipment assets contained within it.
Claiming depreciation is a significant taxation benefit, and one which many investment property owners are unaware exists. Depreciation is a non-cash deduction – you do not need to spend any money to claim it.
Frequently Asked Questions
Interested? Check out the online tax depreciation calculator HERE.
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