Changes To Your Investment's Depreciation
Depreciation schedules are a notable tax implication to keep track of for your investment property.
The changes to depreciation announced in the 2017 budget will be taking effect from July this year. As part of the change, new investors can only claim plant and equipment on items that are installed by themselves, or if the investment property they buy is new.
In addition, the ATO, in consultation with the Australian Institute of Quantity Surveyors, have reviewed the list of items considered to be plant and equipment, as well as included changes of their effective lives.
If you're interested in keeping up-to-date on how taxation changes affect your investment property, talk to Coronis today.