Tax Depreciation Schedules
Maximise Your Tax Deductions with a Professional Tax Depreciation Schedule
As a property investor, commercial property owner, or rural producer, you may be eligible to claim significant tax deductions on your property.
A Tax Depreciation Schedule ensures you maximise your deductions under the Income Tax Assessment Act 1997, helping you reduce taxable income and improve your return on investment.
At WBP Group, our ATO-compliant Tax Depreciation Schedules are prepared by qualified Quantity Surveyors and tailored for all property types, including residential, commercial, industrial, and rural properties.
A Tax Depreciation Schedule (TDS) consists of two main components:
- Capital Works Deductions (division 43) – Covers construction costs, structural
improvements, and external works - Plant & Equipment Depreciation (division 40) – Includes removable or mechanically operated assets such as carpets, hot water systems, and air conditioners
Our comprehensive Tax Depreciation Report provides a breakdown of eligible deductions over the lifetime of your investment property, ensuring you claim every tax benefit available.
To maximise your depreciable deductions, call us on 1300 302 581 or click below for a quote.
Frequently Asked Questions:
If you own an income-producing property, whether it’s a rental property or a business asset, you may be entitled to claim depreciation deductions. A Tax Depreciation Schedule helps you maximise these deductions by outlining the wear and tear of your property and it’s assets over time.
Prepared by qualified Quantity Surveyors, a Depreciation Schedule for Rental Property ensures that all eligible deductions are accurately identified to maximise your tax savings while also ensuring compliance with ATO (Australian Taxation Office) regulations, reducing the risk of errors or missed claims.
Tax Depreciation can be claimed by anyone who owns an income-producing property. However, it is not applicable to your primary place of residence (PPOR).
Yes, you are entitled to claim depreciation on common area assets, with allowances apportioned based on your unit entitlement. In addition to inspecting your individual unit, a full assessment of the strata complex’s common areas will be conducted. Depreciable items in shared spaces may include, but are not limited to, smoke detection and alarm systems, fire hose reels, fire extinguishers, car parking facilities, hydrant pumps, pool and spa equipment, as well as gym fit-outs and equipment.
To create a comprehensive Tax Depreciation Schedule Report, a thorough site inspection of your property is conducted to identify all depreciable assets. Following this, our Quantity Surveyor compiles a detailed schedule outlining the maximum depreciation allowances for the building, structural improvements, and plant & equipment. This includes items such as kitchen appliances, hot water systems and flooring. The findings are then compiled into a full Depreciation Report for Investment Property, detailing depreciation schedules for rental property for future years, which you can provide to your accountant for tax return preparation.
To generate a Property Tax Depreciation Schedule, we need specific details about your property, including the settlement date and purchase price, as well as any improvements or additions made, along with their dates and costs if available. Additionally, we require the date the property was first rented out (tenancy commencement date) and floor plans, if accessible.
A Tax Depreciation Schedule for Investment Property can be created to help individuals recover unclaimed depreciation benefits for up to four years.
Yes, depreciation calculations begin from your settlement date and you can make adjustments for up to four years retrospectively. This means you may be able to claim up to four years of depreciation in the current financial year.
This applies to building structures, plant and equipment and structural improvements, helping offset costs over time.
