Depreciation Rates Reduced

Well, in today’s budget, Mickey Cullen has announced that property investors purchasing residential properties from today will only be able to claim depreciation of 2% straight line or 3% diminishing value on the buildings.

And for those of you who only earn $9500 a year like me, we will be getting some tax relief – in 2008 we get an extra 67 cents per week.

Cheers
Jeff