Depreciation is where most property owners leave money behind. A schedule runs up to 40 years and the cost of preparing it is deductible. On residential that covers hot water systems, solar, air conditioning, blinds, light fittings, pool filtration and security systems. On commercial it covers flooring, shelving, desks and plant.
One rule catches people out. Depreciation on plant and equipment can only be claimed on second-hand properties acquired before 9 May 2021. We check that first.
