Rental property

Depreciation and capital expenses and allowances

Capital allowance measures contain the rules for calculating the decline in value of depreciating assets.

Effective life of an asset

To use either of the depreciation methods, you have to work out how long the asset can be used to produce income - its effective life.

Property

Your home is generally exempt from tax. If you have an investment property, build or renovate for profit, or use a property in the running of a business, there may be implications for income tax, capital gains tax and goods and services tax (GST).