Renovating · Koste Knowledge Base

Can I claim depreciation on a renovated property?

Published 26 June 2026 · Last updated 26 June 2026

Quick Answer

Yes, renovated properties may have depreciation deductions, especially for capital works and new assets. The claim depends on who completed the renovation, when it was done and whether the property is income-producing.

Renovated properties can be valuable from a depreciation perspective.

Potential claim areas:

Capital works from renovations
New appliances
New flooring
New air conditioning
New blinds
Bathroom upgrades
Kitchen works
Extensions
Outdoor structures
Scrapping of removed assets
Common property works

If the renovation was completed by a previous owner, capital works may still be claimable. If the investor completed the renovation, new assets and capital works should be added to the depreciation schedule.

For residential property, second-hand plant rules still need to be considered.

Frequently Asked Questions

Can previous renovations be claimed?

Yes, eligible capital works may be claimable.

Can I claim new assets I install?

Yes, where they are used for income-producing purposes.

Do I need a new schedule after renovating?

Yes, if the works are material.

Can old assets be scrapped?

Possibly, if they are documented before removal.

Can Koste.ai help?

Yes. Koste.ai can support renovation and depreciation records.

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Written by Koste Team · Koste Chartered Quantity Surveyors · AIQS Member · RICS Member · TPB Registered · 1300 669 400 · info@koste.ai