- BenDParticipant@aussietrooperJoin Date: 2018Post Count: 1
With the new depreciation rules, as I understand it any property acquired after 01July2017 will no longer be able to depreciate any fixtures (ovens, blinds etc).
I have a townhouse that I bought prior to this date, but which is not finished construction yet. If I move in temporarily once construction is complete, do I lose the ability to depreciate those fixtures? (as they might be regarded as ‘used’)TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213ChrisParticipant@bmt-tax-depJoin Date: 2016Post Count: 3
The occasional/incidental use rule is a grey area and there’s information on the ATO website that we believe is soon going to be out-of-date. At the moment we feel like anything more than a week (say, on an annual basis) could very well test the definition of “occasional”. That advice has come from the NTAA.