C2 Developments

A property starts to depreciate once settlement has occured (if the property is being purchased) or once practical completion has been reached (if the property is being constructed, refurbished or fitted out). Ideally a claim should be lodged as soon as possible after these key dates in order to maximise the allowable deductions. However a property owner may still be eligible for a considerable amount of deductions if a tax depreciation schedule is professionally prepared by a Quantity Surveyor and submitted at a later date. As long as a property has been constructed after the eligible date then the owner is entitled to the full gamut of depreciation allowances. Even if the building was built prior to the eligible date, the owner is still able to claim Division 40 assets which are not affected by the age of the premises. Whatever the situation, C2 Developments always aims at maximising the eligible deductions for you.