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Tax Depreciation Examples

Flats/Multi Family Depreciation Example 3
Location: Griffin QLD 4503
Property Type: 2 flats – not strata titled
Flat 1: 2 bed, 1 bath, single lock up garage
Flat 2: 3 bed, 2 1/2 bath, single lock up garage
Purchase Price: $598,500 (House & Land Package)
Settlement Date: March 2017
Construction Date: March 2017
Total depreciation calculated for the 1st full year: $13,633
Total depreciation calculated over a 5 year period: $51,373
Total depreciation calculated over a 10 year period: $95,878
Total depreciation calculated over a 20 year period: $169,430
Total depreciation calculated over a 30 year period: $240,759
Total depreciation calculated over a 40 year period: $317,199

NOTE: The property comprises a new residential premise and is not affected by the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 Chapter 2 – Limiting deductions for plant and equipment in residential property.