Isn’t Tax Depreciation only available on newer properties?
Tax Depreciation is available on all properties, both new and old. Both Capital Allowance depreciation on the building itself and Plant and Articles depreciation are available on properties built after 1985 (the cut-off year as determined by the ATO). Although properties built prior to 1985 do not qualify for the Capital Allowance component of depreciation, all improvements and renovations made to the property since its construction, however minor, can be depreciated from the date they were completed. This can include major renovations such as extensions, garages, carports and pergolas to more modest improvements such as updated kitchens and bathrooms, repainting, and new floor and window coverings. You will be surprised at the amount of depreciation available in older properties.
