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Hi, I purchased a new investment property, which has quite a large amount of depreciation to be claimed for tax purpose. Just curious, if I move overseas and have no full-time job income in Australia (except rental income from the mentioned investment property), can the yearly depreciation still be claimed for those years?
Most helpful response
7 October 2019 12:47 PM - edited 7 October 2019 12:50 PM
Replies 1
Hopefully, the depreciation is Capital works depreciation at 2.5% or newly acquired depreciating assets.
You can claim it but if you have $0 income you will only be carrying forward a loss.
Most helpful response
7 October 2019 12:47 PM - edited 7 October 2019 12:50 PM
Replies 1
Hopefully, the depreciation is Capital works depreciation at 2.5% or newly acquired depreciating assets.
You can claim it but if you have $0 income you will only be carrying forward a loss.
Thanks for the reply.
Seems like it's not a good idea to buy a new investment property and go overseas