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Tax Depreciation Examples

Flats/Multi Family Depreciation Example 1
Location: Biggera Waters QLD 4216
Property Type: 3 Level flat building comprising 10 flats with undercover carparking
10 x 2 bed, 2 bath flats
Purchase Price: Not disclosed
Settlement Date: November 2017
Construction Date: November 2017
Total depreciation calculated for the 1st full year: $96,336
Total depreciation calculated over a 5 year period: $416,751
Total depreciation calculated over a 10 year period: $793,693
Total depreciation calculated over a 40 year period: $2,816,500

NOTE: Purchased post 9 May 2017 unable to claim depreciation on existing plant & equipment items at time of purchase under the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 Chapter 2 – Limiting deductions for plant and equipment in residential property. If new plant and equipment items are purchased and installed by the owner, they are able to claim depreciation on those plant & equipment items providing they are new and only used for income generating purposes.