According to the Reserve Bank of Australia (RBA), the number of investors owning multiple properties has been growing exponentially over the last few years. RBA puts the growth at 7.5% per annum for persons with various properties. Due to high demand for space, investors that buy old property make renovations worth thousands of dollars. As an incentive to investors, the Australian Taxation Office (ATO) allows deduction claims on depreciable assets. However, few are aware of the effects property renovations have on property deductions once they decide to dispose of them.
15 February 2018