For CGT calculation, depreciation claimed must be deducted from property price arriving Adjusted Cost Base. If the taxpayer does not have income other than income from investment property during the period having that investment property, and that rental property has been making losses (mainly due to loan interests and depreciation allowances). In this perspective, the Adjusted Cost Base becomes unfairly overstated to the taxpayer for CGT. Is there way to fairly access the Adjusted Cost Base for that taxpayer, like apply for ruling to exclude depreciation claimed in Adjusted Cost Base?
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