HIGHRISE UNIT COMPLEX EXAMPLES
EXAMPLE – Depreciation & Capital Allowances – High Rise Unit – Maroochydore Queensland 4558
| Location: | Maroochydore QLD 4558 |
|---|---|
| Property Type: | Furnished 2 bed, 2 bath unit in highrise complex |
| Purchase Price: | $700,000 |
| Settlement Date: | September 2016 |
| Available for Lease: | December 2016 |
| Construction Date: | September 1983 |
| Total depreciation calculated for the 1st full year: | $12,890 |
| Total depreciation calculated over a 5 year period: | $49,567 |
| Total depreciation calculated over a 10 year period: | $74,878 |
| Total depreciation calculated over a 40 year period: | $113,024 |
NOTE: The property was purchased on/before 9 May 2017 and was used in the 2016/17 financial year as an investment property. Under the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 Chapter 2 – Limiting deductions for plant and equipment in residential property, the plant and equipment items identified within the property under Division 40 or Subdivision 328-D are eligible to be deducted under Division 40.
EXAMPLE – Depreciation & Capital Allowances – High Rise Unit – Surfers Paradise Queensland 4217
| Location: | Surfers Paradise QLD 4217 |
|---|---|
| Property Type: | Furnished 1 bed, 1 bath unit in highrise complex |
| Purchase Price: | $524,000 |
| Settlement Date: | November 2016 |
| Available for Lease: | November 2016 |
| Construction Date: | March 2016 |
| Total depreciation calculated for the 1st full year: | $18,765 |
| Total depreciation calculated over a 5 year period: | $79,694 |
| Total depreciation calculated over a 10 year period: | $149,687 |
| Total depreciation calculated over a 40 year period: | $335,365 |
NOTE: The property was purchased on/before 9 May 2017 and was used in the 2016/17 financial year as an investment property. Under the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 Chapter 2 – Limiting deductions for plant and equipment in residential property, the plant and equipment items identified within the property under Division 40 or Subdivision 328-D are eligible to be deducted under Division 40.
EXAMPLE – Depreciation & Capital Allowances – High Rise Unit – Surfers Paradise Queensland 4217
| Location: | Surfers Paradise QLD 4217 |
|---|---|
| Property Type: | Furnished, refurbished, 2 bed, 2 bath unit in highrise complex |
| Purchase Price: | $467,000 |
| Settlement Date: | July 2016 |
| Available for Lease: | July 2017 |
| Construction Date: | July 1998 |
| Total depreciation calculated for the 1st full year: | $11,863 |
| Total depreciation calculated over a 5 year period: | $48,456 |
| Total depreciation calculated over a 10 year period: | $60,288 |
| Total depreciation calculated over a 40 year period: | $65,576 |
NOTE: The property was purchased on/before 9 May 2017 and was used in the 2016/17 financial year as an investment property. Under the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 Chapter 2 – Limiting deductions for plant and equipment in residential property, the plant and equipment items identified within the property under Division 40 or Subdivision 328-D are eligible to be deducted under Division 40.
Get Bigger Returns From Your Investment Property Now
Don’t miss out on legitimate tax deductions! Call us on 1300 782 715/+61 402 414 134 or request a quote.
