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Rocco1(Newbie)Newbie
1 Sept 2023

I have a rental property and have installed solar panels paid via a lump sum payment of $3,000 together with a Solar Victoria four year interest free loan of $1,400 with monthly instalments. The renter is contributing $700 towards the interest free loan on a monthly basis. What amount can I depreciate and deduct for this outlay? Thank you

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243 views
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CatherineATO(Community Support)Community Support
4 Sept 2023

Hey @Rocco1!


It sounds like you'd be entitled to claim a deduction for depreciation of the solar panels. That would be based on the asset being used for income purpose (ie rental) and is 100% available. 


The $700 contribution would be classified as income and not part of the calulation in this scenario!

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Most helpful reply

CatherineATO(Community Support)Community Support
4 Sept 2023

Hey @Rocco1!


It sounds like you'd be entitled to claim a deduction for depreciation of the solar panels. That would be based on the asset being used for income purpose (ie rental) and is 100% available. 


The $700 contribution would be classified as income and not part of the calulation in this scenario!

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What can I claim for my rental property solar panels paid by a lump sum + interest free instalments | ATO Community