So if I use the ITWV, I can use depreciation as part of that? And the point of an IP is that your not going to immediately sell it so therefore you would not have to pay it back for some time (until you sell?)
The bottom line is that if, after interest, hard expenses (rates, insurance, repairs and maintenance etc etc.) and soft expenses (depreciation) your IP is running at a loss, then you can utilise the ITWV.
If you're running at a profit you can't, by definition. However, you don't need to anyway. Nobody ever went broke making a profit!