Owning Property · Koste Knowledge Base
How Does a Lease Renewal Affect My Depreciation Schedule?
Quick Answer
A lease renewal can impact your property's depreciation schedule by potentially altering the effective life of depreciating assets under **Division 40 of ITAA 1997**. Changes to the property's use or tenant improvements can necessitate an update to the schedule. Consult a QS for accurate adjustments.
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Written by Koste Team · Koste Chartered Quantity Surveyors · AIQS Member · RICS Member · TPB Registered · 1300 669 400 · info@koste.ai