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gracengws(Newbie)Newbie
6 Nov 2021

Hi, we have become a Aus tax residence since 2017 and has been declaring rental income from overseas residential property. I recently read that there is capital allowance via tax depreciation schedule for any residential properties build after 1990. 1) Does this apply for my case? 2) If yes, who can i engage to do up a 40 years depreciation schedule? 3) Once 2) is done, can i submit to ATO the depreciation deductions that i did not file for the last 5 years?

3,101 views
3 replies
3,101 views
3 replies

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CaroATO(Community Support)Community Support
19 Oct 2023

Hi @trup317,


It's quite possible once you've met the eligibility criteria.


Have a look on our website where it talks about rental expenses. You might be surprised what you can claim.


Keep in mind, you may need to amend previous tax returns to claim the depreciation.

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RichATO(Community Support)Community Support
9 Nov 2021

Hi @gracengws


1) Yes, you are entitled to claim depreciation costs for your overseas rental property that was built after 1990.

2) We don't recommend individual service providers. There are professional firms who specialise in property depreciation services. You'll find them using an Internet search.

3) As an individual there is a time limit for submitting amendment requests to past income tax returns of 2 years. The clock starts ticking from the date of your assessment notice. You can read about how to request an amendment to your tax return here.


trup317(I'm new)I'm new
18 Oct 2023

Hi - I have similar issue but purchased UK property in 2012 and moved to Oz in 2013.. can I back darte that far the depreciation? ?

Most helpful reply

CaroATO(Community Support)Community Support
19 Oct 2023

Hi @trup317,


It's quite possible once you've met the eligibility criteria.


Have a look on our website where it talks about rental expenses. You might be surprised what you can claim.


Keep in mind, you may need to amend previous tax returns to claim the depreciation.

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Tax depreciation scheulde for Overseas Residential Property Rental income | ATO Community