19

May 2017

Depreciation Rules For Property Owners

The worldwide cyber hack crashed our mail server from Wednesday night to Friday morning (along with many others I am told). We are back online now, but if you sent us an email that has not received a reply, then please accept our sincere apologies and re-send it to us for immediate action.

Following our email last week about the effect of the recent budget on property owners, we have received further clarification about the new depreciation rules. While this is not yet legislated, it appears that investors will maintain the ability to depreciate new plant and equipment within a new property; however owners who acquire an established property after the 9th of May 2017 will not be able to claim depreciation on existing plant and equipment assets. This could amount to a reduced tax deduction of over $4,500 on average.

So you need to buy a new property from a developer in order to claim the full depreciation - and the good news for you is that we only sell new property!