Can You Claim Depreciation on an Older Property?

Quick Answer

Yes, you can claim depreciation on older properties in Australia, but it depends on specific factors. Under Division 43 of the ITAA 1997, capital works deductions are available for buildings constructed after 16 September 1987. However, for plant and equipment under Division 40, the 2017 budget changes restrict claims on second-hand assets for properties acquired after 9 May 2017.