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Depreciation differences: old versus new residential properties

By the resi financial blog team, 24 February 2015

Finances

Property depreciation is a non-cash tax deduction available to the owners of income producing properties.


As a building gets older, items wear out – they depreciate. The Australian Taxation Office (ATO) allows property owners to claim this depreciation as a tax deduction. Depreciation on mechanical and removable plant and equipment items such as carpets, stoves, blinds, hot water systems, light shades and heaters are all valid deductions. There are also deductions available for the wear and tear of the structural element of a building, commonly called a capi ...

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