All Topics / Help Needed! / can I claim depreciation on brand new property, no tenant yet

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  • Profile photo of darkness72darkness72
    Participant
    @darkness72
    Join Date: 2013
    Post Count: 51
    July 7, 2016 - 5:40 pm

    Hi,

    Can I claim depreciation on a brand new built property that finished 2 weeks ago.

    We have been advertising and are yet to have a tenant signed up.

    Is depreciation calculated from when you first have a tenant, or when the property build is completed? Can I claim depreciation for the 2015/16 financial year?

    Cheers

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    July 7, 2016 - 9:26 pm

    Hi darkness

    As soon as the property is available for rent you can claim any allowable deductions.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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