According to legislation introduced in 2017, If you previously plant and equipment, you are not able to do claim as a deduction who decline in value.
If the investor lives in their rental property while renovating, and if you installing any new assets which will considered as previously used.
Therefore, the investor gets risk for only tax benefits.
But on the other side, one good reason for investor is that while installing new plants and equipments assets and then rented out; you may be eligible to claim depreciation deduction from ATO. Please note that the 2017 legislation does not affect buyers of brand-new property.
Brand new property generally holds high value in market.
Structural assets includes new walls, kitchen cupboards, toilets and roof tiles are also unaffected by the legislation changes and it can be claim by owners.
For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at firstname.lastname@example.org