Finance experts tell us that the house you buy is a sound investment especially if you rent it out. But there are two other aspects which reduce the financial benefits. The first is the need to carry out regular maintenance expenses. This seems to grow worse as the property ages, this is called depreciation. The […]
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Most of us understand the basic concept of depreciation. This principle states that whenever an object is used for the purpose for which it was created, it undergoes wear and tear. It could be your car, or your house, or even your laptop. That is why the value of assets keeps depreciating every year. What […]
Australians are eligible to claim tax depreciation through commercial properties along with residential properties. Depreciation can be claimed on commercial properties as a tenant or a property owner. Land-owners get the benefits to claim capital works deductions along with formerly installed equipment and plant. And, tenants can seek deductions of plant and equipment installed in […]
There is a big change in claiming depreciation on renovated properties ever since the Federal Budget 2017 made some changes. Before the introduction of these changes, landlords were eligible to claim depreciation on pre-existing plant and equipment. They could also claim depreciation on renovations undertaken by the earlier owners. Now properties bought after May 9, […]