Can You Claim a Rainwater Tank on Your Investment Property?

Quick Answer

Yes, you can claim a rainwater tank under **Division 40 of ITAA 1997** as a depreciable asset if it's part of an investment property. However, any capital works related to installation may fall under **Division 43**. The effective life of a rainwater tank typically aligns with the ATO's guidelines, allowing for depreciation deductions over several years.