What is a plant and equipment deduction?

One of the two categories outlined by the ATO for depreciation deductions is plant and equipment (division 40).

Depreciation can be claimed for wear and tear on assets in an income producing property that are easily removable or are mechanical in nature. Such items may include dishwasher, over, air-conditioners etc.

Plant and equipment assets are expected to decline in value as they are used over time. The amount of depreciation allowance is calculated based on the item’s effective life. All plant and equipment items have individual effective lives specified by the ATO and updated annually.

Deductible plant and equipment items include:

Why choose Acumentis

Have one point of contact for all your client’s property needs.

Knowledge and experience

Our registered team of professionally certified valuers are experts across commercial, residential and rural and agribusiness property types. We know what depreciable items to look for ensuring that you get a comprehensive ATO approved depreciation schedule prepared by our certified Quantity Surveyors.

Value

We’ll provide you with one tax depreciation schedule that lasts up to 40 years of claim and the fee is 100% tax deductible. We can also undertake a retrospective tax depreciation schedule if you haven’t been claiming deductions so that you don’t miss the tax benefits.

National reach

Wherever you are in Australia a qualified Acumentis property professional is nearby. With over 300 property professionals working from 45 offices in metropolitan, regional and rural Australia our team have your property and tax depreciation needs covered.