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tax depreciation

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enews_300pxTax depreciation is a deduction against assessable taxable income, generated by a residential or commercial investment property.
It works by allowing property investors to deduct a portion of the original costs of plant and equipment (such as furniture and fittings) and capital works (such as renovations) on their investment property each financial year, over the effective life of that item.
The Australian Taxation Office recognises that the value of capital assets gradually reduces over time as they approach the end of their effective life. These assets can be written off as a tax deduction – known as depreciation. For more information contact our office.