Depreciation question

[fuister]

Hi all,

A quick depreciation question just to confirm some issues. I bought a house in 2007 and lived in it for 3 years. I then rented it out June 2010. I cant claim depreciation benefits for the past 3 years as I was living in the property - is that correct? Just wanting to confirm.

Cheers,

 

[Propertunity]

Hi all,

A quick depreciation question just to confirm some issues. I bought a house in 2007 and lived in it for 3 years. I then rented it out June 2010. I cant claim depreciation benefits for the past 3 years as I was living in the property - is that correct? Just wanting to confirm.

Cheers,

Correct. You are not doing your own tax return are you?

 

[fuister]

Thanks for that. Nope, my sister in law is helping as she is an accountant. Just thought I'd ask in case there was something that both of us missed out.

 

[syba]

You'll need to get a depreciation schedule done starting from when you purchased the property, but won't be able to claim the first 3 years.