Can You Negotiate a Depreciation Clause in Your Purchase Contract?

Quick Answer

Yes, you can negotiate a depreciation clause into your purchase contract. This involves ensuring the seller provides a detailed schedule of depreciable assets, which can enhance your tax benefits under **Division 40** and **Division 43** of the ITAA 1997. Consult your solicitor and a Chartered Quantity Surveyor to ensure compliance and maximise your deductions.