Hi,
I had a residential property that was rented out over the FY21/22 and FY22/23 tax years. I've now moved into this property this FY as of August 2023.
I hadn't purchased a Residential property depreciation schedule, and now plan on doing so and adjusting both tax returns appropriately - my understanding is I can still go back and adjust both FY21/22 and FY22/23 based off the schedule. I understand that the cost of the schedule is also tax deductible. Since I'm now living in the property and it's no longer an investment property, I'm trying to understand if I can either:
1) Buy the depreciation schedule now and claim the cost of the schedule in this FY23/24 year, since the purpose of the schedule is purely for business related reasons
2) Buy the depreciation schedule now and claim the cost of the schedule back in previous years
I assume if neither 2 options can be done, then I could only buy the depreciation schedule but the cost of the schedule can no longer be claimed back
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