Can renovations be depreciated?
Yes. The ‘Special Building Write-Off’ can be claimed as long as the renovations were undertaken after 26 February 1992. Investors can also claim Architects and Engineers Fees. Structural inclusions such as retaining walls and sealed driveways, if undertaken after this date, can also qualify. Balben Property Transfers recommends that you take advantage by using a Tax Depreciation Schedule to help you maximise your Tax Depreciation. Please note that we recommend Depreciator to you on an independent basis and we do not receive commission or other benefits from Depreciator. Depreciator has an Australia wide network of Quantity Surveyors and appropriately qualified people. They supply Tax Depreciation Schedules to one of Australias largest accounting groups and two of Australias largest real estate groups. Their service is cost effective and efficient.
