Changes to our schedules | Tax & Property Depreciation Schedule

Changes To Our Schedules


The last time we made a change to our Depreciation Schedules it was in response to the changes introduced in the 2017 Housing Tax Integrity Bill.

This time we’ve acted on feedback from the accountants who use our schedules. We believe this change will save accountants time and make our Depreciation Schedules a little easier to use.

A few important points about what we haven’t changed. We understand you’re used to a certain format and finding key information on certain pages.

  • All the tables and graphs are on the same pages
  • Existing figures in our tables and graphs stay the same (this is additional information)
  • Our CSV files are not affected by this change

What has changed with our Depreciation Schedules?

On Page 8 of our Depreciation Schedules you’ll find the summary table that most accountants will use when lodging their clients’ returns with the ATO.  This page lists the Diminishing Value Depreciation figures for the Depreciating assets (or Division 40) in the investment property and the yearly building (Division 43) Depreciation for the building. Previously we provided a single Total Depreciation figure for each year.

Now, we provide additional yearly totals for the assets (Div 40) and the building allowance (Div 43) in the same table.

Below you’ll see see the new Div 40 Depreciation & Div 43 Depreciation totals highlighted in red.
Depreciator Depreciation Schedule format change

How is the total Div 40 Asset Depreciation Calculated?

The total Div 40 Depreciation is calculated by adding the totals for the Depreciating Assets, Common area assets, Assets in the Low Value Pool, and common assets in the low value pool. Further information on those is below:

  • Depreciating Assets – These are the depreciating assets (non-structural items e.g. kitchen appliances, curtains and blinds, carpet, hot water etc) contained in the investment property that are not located in a common area or the low value pool.
  • Common area – These are assets located in the common areas of a strata managed property (normal apartments, townhouses, and villas) that are not in the low value pool. This would typically be items such as gym equipment, lifts, building security systems, fire services etc.) The owner is entitled to depreciate the apportioned value of these as laid out in the unit/lot entitlement of the Strata Plan.
  • Low Value Pool – These are the Low Cost Depreciating Assets with a starting value between $300 and $1000 that aren’t in the common areas.
  • Common area – The second common area row is for Low Cost Depreciating Assets that are located within the common areas of the building. This can include items like smoke detectors, sensors, cameras, etc.)

Email us or call us on 1300 66 00 33 if you have any questions.

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