Rental Depreciation Schedule

I am trying to conclude my findings on rental depreciation so I can decide which way to go.

Using MyGov, the ‘Depreciation and Capital allowance’ tool will ask for the construction dates and cost, and then it will give me a schedule for 40 years or so. Those figures will automatically be on MyGov record. Or If I get the schedule done by a ATO complaint surveyor, they ask different things, I will be given a schedule, but then I won’t be able to put the amount from the schedule using MyGov, because Rent section does not have a field to insert the figure from the surveyor, MyGov has only a tool.

So, I must lodge the tax return by a tax agent if I get the schedule done by a surveyor? Is that right?


  • +1 vote

    I was under the impression a depreciation schedule must be done by a surveyor, or else you can't claim, I could be wrong though.

    Up until this year I've always done my tax returns on using the surveyors schedule. There is a section to add it in. Due to a change in my circumstances I will have my tax done by an accountant this year so can't point you to where, but it was definitely in there!


      haven't done mine this year, but agree it was definitely there.


      Thanks, did you put those figures from the surveyor in that ‘Depreciation and Capital allowance’ tool? Any clue might give me the lead.

  • +2 votes

    I got one done by BMT. Best $550 ever spent. Now deducting about $5k a year for the next 30 odd years.


      Can you do it for older buildings, or units? Or does it have to be brand new? Can you claim the 550?

      • +1 vote

        Yes you can claim the 550.

        From My schedule:
        Non-depreciable items include expenditure on:  Land purchase  Demolition  Site clearance  Soft landscaping (plants, soil, turf etc)  Repairs and maintenance items which are deemed to be non-capital expenditure and accordingly, such costs are capable of being fully written-off in the year of their expenditure

        It'll then have Building Allowance, Structural improvements and Plant and Equipment. For me these 3 added together give me just over $10k a year.

        On an older building it would be less. Basically it let's you put some of the purchase cost to depriciable assets within the building. it's from a while ago but gives a good indication based on when the house was built as as well.

        It's well worth spending the money and getting it done correctly. Mine was $770 3 years ago.


      I will get one done too by BMT, but can I use their figures using MyGov account or I must see an agent to do that?
      I can not see any option in MyGov.


        No idea. My accountant handles all this.


        Yes you input those BMT figures into your rental schedule under capital works and capital allowances.

        Be careful thou, i think there were some changes that you can't claim depn if you bought after the last budget. You can still claim the building portion.

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