As referred to in previous articles click here, the amendments to legislation about claiming depreciation has changed the timing of claims for second hand Division 40 assets. Previously, the depreciation deductions for these assets could be[...]
After much initial angst back in May, we have seen little difference in investor demand for depreciation schedules, with schedules requested from Capital Claims Tax Depreciation to be greater over the May - September period than compared with the[...]
Pick your favourite property expert and check out their advice regarding the benefits of claiming depreciation on their investment properties. Whether you follow Margaret Lomas or Michael Yardney, or you prefer Cam McLellan, or Jane Slack-Smith,[...]
What is Division 43 or Capital Works?
"Division 43 of the ITAA 1997 provides for a system of deducting capital expenditure incurred in the construction of building and other capital works used to produce assessable income." - Australian Taxation[...]
Recap of the changes
In the Budget announcement of May 9, 2017 the Government stated their intention to limit the deductions claimable by investors for the depreciation of their Plant and Equipment assets in residential[...]