Property Depreciation - Sydney, Australia

Depreciation is just compensation for wear and tear. It’s nothing more complicated than that. Businesses claim depreciation on their ‘business assets’: computers, furniture, vehicles etc. To a property investor, a rental property is like a business asset, so they can depreciate it. The building itself depreciates, as do the appliances, floor coverings, hot water unit etc.
Smart property investors (or ones with clever accountants) claim depreciation as a tax deduction every year. A Depreciation Schedule is a document that sets out exactly how much you can claim. Make sense so far?
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