Division 43 Capital Works Allowances relate to the building’s structural components, such as bricks, roofing, framing, windows, doors, plaster, and kitchen cabinetry.
Division 40 Plant and Equipment covers items like carpets, blinds, air conditioning units, ceiling fans, and kitchen appliances.
For residential properties, Division 40 deductions are generally only available for new properties, unless the ownership structure is through a company or trust.
If the property was purchased after 9 May 2017 and is held in a personal name, Division 40 deductions cannot be claimed for second-hand assets unless those assets were newly acquired by the current owner.