A tax depreciation schedule for your rental property, worked from your own documents.

A report that sets out the deductions the owner of an income-producing property can claim each year: the decline in value of plant and equipment such as carpet, blinds, appliances and hot water units (Division 40 of the Income Tax Assessment Act 1997), and capital works deductions for the building and structural improvements (Division 43). Your accountant uses it to complete your tax return each year.

It depends on when the building was begun, what it cost to build, where it is and what is in it. As an indication from the cost database our reports are priced from: a standard single-storey brick veneer house of 200 m² built in 2025 cost about $251,998 to construct in South Australia, the cheapest state or territory, and $429,277 in the Northern Territory, the dearest, less the plant listed separately, so its capital works deduction is about $6,300 to $10,732 for a full year. That is 2.5% of the construction cost a year for residential construction begun after 15 September 1987, over the 40 years from the building's completion, so an older building has fewer of them left, and construction begun earlier has run out or was never deductible. Plant and equipment can add deductions of its own, largest in the early years, though plant that came with a second-hand property is often not deductible (the answer on second-hand property says when). Deductions reduce your taxable income, so the cash saving is the deduction multiplied by your marginal tax rate.

Yes, for the building: capital works deductions remain available for residential construction begun after 15 September 1987 (at 2.5% a year), whoever owned it before. Plant and equipment that came with a second-hand residential property acquired at or after 7.30 pm on 9 May 2017 is generally not deductible for individuals, self-managed super funds and most trusts and partnerships (section 40-27), and nor is plant that was used while the property was the owner's home. New plant bought for the property while it is let is deductible. The schedule still lists the previously used plant, because when it is sold or scrapped the decline that could not be claimed can make a capital gain or loss.

Whatever you have: the contract of sale, a building contract or invoices for work done, a property or inspection report, floor plans and photos of each room. The more the documents show, the less has to be estimated. Large PDFs are fine; they are split in your browser before upload.

Where a document states a cost, it is used. Otherwise the building is priced from its floor area, construction and year built, and plant from its typical installed price at the time, using our database of historic construction and asset costs compiled from ABS series, a building cost index, cost guides, published prices and our own cost rates, the lower taken where our rates and the others price the same item the same way, with our own estimates where nothing is published for an item. Where the documents leave a fact open, we take what a quantity surveyor would reasonably assume from them.

Yes. A co-owner's interest in an asset is treated as the asset itself (s 40-35, ITAA 1997), so the report works each owner's schedule on their share of every cost, and the $300 immediate deduction and $1,000 low-value pool thresholds apply to that share: two equal owners each write off an item costing up to $600 and pool one costing less than $2,000. In the early years that can be more than each owner's percentage of a single schedule; over the schedule's life the owners' figures add to the same total. Give the owners' names and their shares on the form (equal shares are assumed if none are given).

Diminishing value gives larger deductions in the early years and smaller ones later; prime cost spreads them evenly over each asset's effective life. The report shows both, year by year, so you and your accountant can choose. Once chosen for an asset, the method cannot be changed.

Your documents are read only to prepare your report, through services that keep no data, and are deleted from them as soon as the report is made. We do not keep your documents. The finished report is stored encrypted so it can be downloaded again, and is never shared.