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Correct answer. The more recently, the better. Absolutely. If you are declaring the income from this then you would be mad not to take advantage of all the depreciation available.

Absolutely, though it will largely depend on how long you've owned it. That is the most important factor here. When did you buy it? Your fixtures and fittings will depreciate from the settlement date of purchase. This will include the oven, hot water system, air conditioning, floor coverings...

Of course, if you do go down the road of declaring the income, as long as it's a reasonable amount of rent you can claim the depreciation on the boarder's private assets (e.g., their bedroom), and also a percentage of any common area assets. There would be thousands of dollars in deductions in...