Intax --- Page: 22 : July 2007 No author supplied for original article
LexisNexis Summary
Claims for tax depreciation on investment properties need to be evaluated on a case-by-case basis. Whether the owner has ever lived in the property, and whether they built or bought an existing property will influence the depreciation claim. If the owner has been sole occupant of the property, Australian law does not permit a depreciation claim to be made for the period of solo tenancy. If the investor has bought an existing property, a quantity surveyor should be hired to judge whether a division 43 capital works allowance can be claimed. Originally published in "Maverick".
