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David1960(Initiate)Initiate
30 July 2023

We purchased an investment property off the plan in 2017. It was rented from settlement. A depreciation schedule was done by a quantity surveyor. This was used to populate the Depreciation & Capital Allowances tool. We lived in it for the 2021/22 financial year so did not have rental income or claim any expenses, depreciation or capital works.

Are the figures automatically produced by the tool for the 2022/23 financial year accurate or do I have to go in & re-enter from the depreciation schedule to allow for not claiming the previous FY?

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391 views
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AriATO(Community Support)Community Support
4 Aug 2023

Hi @David1960


They should be accurate. It should show you what the depreciation deductions are over a period of time. Even when you can't claim a deduction, it's still depreciated. You'd just claim from when you're eligible again. Does that make sense?

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Most helpful reply

AriATO(Community Support)Community Support
4 Aug 2023

Hi @David1960


They should be accurate. It should show you what the depreciation deductions are over a period of time. Even when you can't claim a deduction, it's still depreciated. You'd just claim from when you're eligible again. Does that make sense?

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Rental property Depreciation and Capital Allowances Tool Accuracy | ATO Community