Bye Bye building depreciation

000019515159Here’s a nice simple once-over to clarify all the media fuss surrounding the changes to rental property depreciation. Essentially, from 1 April 2011, you can no longer claim building depreciation but thankfully you’re still able to claim depreciation on chattels.  This is a plus because chattels, such as carpet and curtains, generally have a far higher depreciation rate.   And although losing the building claim may seem a little rough it’s generally only a question of timing because the building depreciation claim is often reversed when you sell the property for more than it originally cost you. Continue reading Bye Bye building depreciation