Tax Depreciation Examples
RESIDENTIAL
HOUSE – A Regional residential house, purchased in 2014 for $ 395,000. Built in 1990 and renovated in 2004. Claimed capital allowance from time of purchase on original construction cost and on renovations. As it was purchase pre 9th May 2017 also claimed depreciation on plant. Total deductions $ 90, 533 or 23 %. A deduction of $ 11,832 in first full year.
UNIT – A Coastal unit, purchased in 2017 from builder for $ 820,000. Built in 2017. Claimed capital allowance from time of purchase on construction cost. As it was purchase pre 9th May 2017 also claimed depreciation on plant. Total deductions $ 475,890 or 58 %. A deduction of $ 27,099 in first full year.
