Can I Claim Depreciation on a Property Purchased at Auction?

Quick Answer

Yes, you can claim depreciation on a property purchased at auction, provided it meets the criteria under Division 40 and Division 43 of the ITAA 1997. However, the ability to claim on previously used plant and equipment in residential properties has restrictions if purchased after 9 May 2017. Consult with a Chartered Quantity Surveyor to ensure compliance and maximise your deductions.