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Investment Property Depreciation - Being Overseas

Newbie

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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? 

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Taxicorn

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.

 

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Best answer

Taxicorn

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.

 

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Newbie

Replies 0

 Thanks for the reply. 

 

Seems like it's not a good idea to buy a new investment property and go overseas Cat Happy