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Tax Depreciation

Plant and Equipment Depreciation

(division 40)

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:

Legislation Change – Residential

In November 2017, the Federal Government changed depreciation legislation. The change means depreciation cannot be claimed on second-hand plant and equipment within residential investment properties purchased after 7:30pm on the 9th of May 2017.
New assets installed in an investment property can be claimed.

Residential Property (House)
  • Air conditioning units
  • Dishwasher
  • Light fittings
  • Oven
  • Window furnishings
  • Common property assets (gym equipment, pool cleaning & filtration, outdoor furniture)

Residential Property (House)
  • Air conditioning units
  • Garage doors
  • Light fittings
  • Security system
  • Solar panels
  • Pool cleaning and filtration systems

 

Commercial Property
  • Floor coverings
  • Cash register
  • Chairs and tables
  • Computer network equipment
  • Commercial ovens
  • Window coverings

* Lessee can claim depreciation on fitout assets

 

Rural | Agribusiness Property
  • Air compressor
  • Generators
  • High pressure pumps
  • Light fittings
  • Refrigeration
  • Winches

 

Tax Depreciation

Case Studies

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 commercialresidential 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.

Your team of
tax depreciation experts

State contacts
Michael Everingham
Valuer
Gold Coast
Marty Creigh
Valuer
Newcastle
Daniel Carr
Valuer
Newcastle
Tom McDouall
State Director – Regional Operations (South)
Newcastle
Heath Craft
Senior Valuer
Albury
Maria Ergos
Client Services Team Leader
Sydney Residential
Gregory Jordan
Valuer
Port Macquarie
Harry Morrow
Senior Valuer
Tamworth
Simon Mandile
Senior Valuer
Sydney
Justine Franklin
Associate Director
Albury – Wodonga
Bryan Guest
State Director NSW – Projects, Infrastructure & Acquisition
Coffs Harbour
Amy Frankel
Regional Director
Port Macquarie
Amber Broughton
Valuer
Gold Coast
Adam Purvis
Valuer
Brisbane
June Button
Senior Valuer
Gladstone
Clancy Miller
Valuer
Townsville
Matthew Galvin
Associate Director
Toowoomba
Henry Brown
Director
Brisbane
Wayne Airey
Associate Director
Sunshine Coast
Alexandra Doneley
Senior Valuer
Emerald
Jany Pezard
Director – Valuations
Sunshine Coast
Michael Everingham
Valuer
Gold Coast
Joe Porter
Senior Valuer
Adelaide
Craig Farley
Valuer
Adelaide
Mark Robins
State Director SA
Adelaide
William Simmonds
Valuer
Hobart
Leon Sleiters
Valuer
Hobart
Harry Chapman
Valuer
Launceston
Harry Chapman
Valuer
Launceston
Joe Stansfield
Regional Director – Tasmania (North)
Launceston
David Duffield
Regional Director – Tasmania (South)
Hobart
Alexandra Churches
Regional Director – Victoria
Bendigo
Quentin Churches
Associate Director
Bendigo
Patrick Monaghan
State Director – Regional Operations Victoria
Gippsland
Curtis Borszeky
Senior Valuer
Perth
Mitchell Fraser
Senior Valuer
Bunbury
Felicity Graham
Senior Valuer
Bunbury
Daniel Horan
Valuer
Perth
James Sholdas
Associate Director Valuations
Perth
Tom O’Sullivan
Associate Director Valuations
Perth
Ben Lamers
Director Acumentis Advisory
Perth
Scott Robinson
Regional Director
Mandurah
Richard Graham
Regional Director – South West
Bunbury
Mark Eaton
Regional Director
Albany
Damien Schifferli
Regional Director – South West WA
Busselton
Nathan King
National Director – Advisory, State Director – WA Operations
Perth
Michael Everingham
Valuer
Gold Coast
Marty Creigh
Valuer
Newcastle
Daniel Carr
Valuer
Newcastle
Tom McDouall
State Director – Regional Operations (South)
Newcastle
Heath Craft
Senior Valuer
Albury
Maria Ergos
Client Services Team Leader
Sydney Residential
Gregory Jordan
Valuer
Port Macquarie
Harry Morrow
Senior Valuer
Tamworth
Simon Mandile
Senior Valuer
Sydney
Justine Franklin
Associate Director
Albury – Wodonga
Bryan Guest
State Director NSW – Projects, Infrastructure & Acquisition
Coffs Harbour
Amy Frankel
Regional Director
Port Macquarie
Amber Broughton
Valuer
Gold Coast
Adam Purvis
Valuer
Brisbane
June Button
Senior Valuer
Gladstone
Clancy Miller
Valuer
Townsville
Matthew Galvin
Associate Director
Toowoomba
Henry Brown
Director
Brisbane
Wayne Airey
Associate Director
Sunshine Coast
Alexandra Doneley
Senior Valuer
Emerald
Jany Pezard
Director – Valuations
Sunshine Coast
Michael Everingham
Valuer
Gold Coast
Joe Porter
Senior Valuer
Adelaide
Craig Farley
Valuer
Adelaide
Mark Robins
State Director SA
Adelaide
William Simmonds
Valuer
Hobart
Leon Sleiters
Valuer
Hobart
Harry Chapman
Valuer
Launceston
Harry Chapman
Valuer
Launceston
Joe Stansfield
Regional Director – Tasmania (North)
Launceston
David Duffield
Regional Director – Tasmania (South)
Hobart
Alexandra Churches
Regional Director – Victoria
Bendigo
Quentin Churches
Associate Director
Bendigo
Patrick Monaghan
State Director – Regional Operations Victoria
Gippsland
Curtis Borszeky
Senior Valuer
Perth
Mitchell Fraser
Senior Valuer
Bunbury
Felicity Graham
Senior Valuer
Bunbury
Daniel Horan
Valuer
Perth
James Sholdas
Associate Director Valuations
Perth
Tom O’Sullivan
Associate Director Valuations
Perth
Ben Lamers
Director Acumentis Advisory
Perth
Scott Robinson
Regional Director
Mandurah
Richard Graham
Regional Director – South West
Bunbury
Mark Eaton
Regional Director
Albany
Damien Schifferli
Regional Director – South West WA
Busselton
Nathan King
National Director – Advisory, State Director – WA Operations
Perth

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