Did you know owners of new investment properties are eligible to claim depreciation on the building structure and the fixtures and fittings in their property?
The effective life of a new building for ATO purposes is 40 years (some exceptions apply). This means a brand new property is able to claim the entire construction cost over the life of the property.
For example a property purchased for $450,000 and built in 2010 can claim $15,824 depreciation in the first year, $14,017 in year 2, $12,113 in year 3, $10,981 in year 4 and $10,342 in year 5 (based on the diminishing value of depreciation).
Source: BMT - Maverick Magazine, Issue 28
2 comments:
Investment in property is big deal for life time.So its important to think twice before buying a home.You have given good information.Keep sharing.
What a lovely home to have. The colors are perfect.
Arrielle P
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