With residential depreciation legislation changing in May last year, there has been some confusion amongst property investors and industry professionals and many have been wondering if second-hand properties can still claim tax depreciation.
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[...]
Still not sure how the new legislation affects investors ability to claim depreciation?
Every day we are fielding questions from investors and their advisers who are unsure if they should be claiming depreciation on their investment property[...]
On the 15th November 2017, Senate passed the anticipated legislation that limits the ability of investors to claim depreciation on second hand assets acquired in investment properties purchased after May 9, 2017.