Building Depreciation Information Packs

Anyone who invests in a residential property and wishes to alter, demolish or construct further additions to the building can commission a tax depreciation report. A tax depreciation means an investor can claim maximum tax deduction benefits and gain financial incentives for their asset (the investment property itself and additional works). The incentive in this case is a building allowance calculated on the actual construction date and cost of the building and additional works.

Where they exist on the file, the footings/foundation commencemnet dates, building permit value and the date that the certificate of occupancy was issued will form part of the depreciation pack.

For more information visit the Environment and Sustainable Development website.