Can You Claim Depreciation on a Property Not Yet Rented?

Quick Answer

In Australia, you can claim depreciation on a property you haven't rented yet if it's genuinely available for rent. The property must be actively advertised and ready for tenants. Under Division 40 and Division 43 of the ITAA 1997, depreciation deductions may apply if these conditions are met. Consult with a Chartered Quantity Surveyor and your accountant for personalised advice.