Surprise tax bonus.

Australasian Business Intelligence, July, 2002

Jul 07, 2002 (The Sunday Times

ABIX via COMTEX) -- Depreciation can be claimed against investment properties. Although many Australian investors are unaware of the Australian Taxation Office's schedule, it allows depreciation to be claimed on around 1,500 common household items in their rental properties over four years. It can also be claimed retrospectively. DEPpro manager, Dan Daly, cites a real case example of a couple who have been able to claim $A13,000 depreciation on a property for which they paid $A100,000 in 1998. He says if people are unaware and fail to claim their deduction, they miss out as does the State, because the money then leaves WA.

Publication Date: 7 July 2002

AUSTRALIAN TAXATION OFFICE: DEPPRO

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