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Coastymike and Paul, thanks. The ruling is especially helpful. The property is currently rented and will hopefully remain so for some time. If taxable income is on par with those of ASX listed companies, say $18 200, is applying depreciation advisable? I can't see that applying depreciation to...

My understanding is that the cost of a car to visit a property when it is being renovated is applied at the ATO rate plus tolls and added to the cost base. However, my accountant advises that this can be claimed in the FY in which the journeys were made, in this case FY14. I cannot find an ATO...