Devonshire Accountants understand the importance of Tax deprecation and hence partnered with Duo-Tax, who are specialist in tax depreciation for individuals for businesses of all sizes.
What is Property Tax Depreciation?
Depreciation is the wear and tear that occurs as things get older. As items get older, the value of these items also decrease in value. The Australian Taxation Office (ATO) allows the depreciation of investment property assets to be claimed as tax deductions. These items are classified as either: 1. Building or 2. Plant & Equipment
1. Capital Works
Also known as: Division 43 (ATO Term) | Building Write-Off | Building Allowance. Capital works refer to the items that make up the building and those that are fixed to the building. Here are some items you could depreciate part of the building:
2. Plant & Equipment
Also known as: Division 40 (ATO Term) | Depreciating Asset | Capital Allowance.

These Items are easily detachable from the property and generally these include items that are motorised and have a shorter expected life span.
Plant and Equipment assets are differing in the rates of tax depreciation for both commercial and residential properties and is dependent on the ATO’s Asset Effective Life Schedule which gives guidance as to how many years the ATO feels an asset may wear out.
Plant and equipment assets offer you accelerated levels of property depreciation due to them in nature being faster wearing when compared to the bricks and mortar of your building. That means you as an investor can claim more immediately tax depreciation, typically within the first 5 years. The ATO then allows quantity surveyors to assess the value of these assets to include into your tax depreciation schedule.
Some items that are considered plant and equipment:
Free Estimates & Free Quote
There’s no charge to inquire, and it might result in substantial savings! Get in touch with our team to obtain an estimate of the available deductions for your investment property. If it is worthwhile for you to move forward, we’ll provide a free quote for preparing a schedule to help you claim the highest possible deductions in accordance with ATO guidelines.
Why Choose Us?
We create tailored financial strategies to your unique circumstances so you can make informed decisions.
Duo Tax Quantity Surveyors Pty Ltd trading as Duo-Tax is a registered Tax Agent with the Tax Practitioners Board to provide Quantity services under registration number 25267367.