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Claim Deductions For Carpet, Curtains, Furniture or Appliances?

Rental property owners: Do you claim deductions for depreciating assets like carpet, curtains, furniture or appliances?

Law alterations may affect what you can claim on second-hand plant and equipment in your 2017-18 and future tax returns.

A depreciating asset is an asset that has a limited life expectancy (effective life) and can reasonably be expected to decline in value over the time it is used.

For most depreciating assets, you can work out the effective life yourself, or use an effective life determined by ATO. Examples of depreciating assets are carpet, furniture and appliances.

 

Source: Depreciating Assets in residential rental properties, ATO