Renovating · Koste Knowledge Base

Should I get a depreciation schedule before renovating?

Published 26 June 2026 · Last updated 26 June 2026

Quick Answer

Yes, it is often best to review depreciation before renovating. A pre-renovation schedule can identify assets with remaining value before they are removed, which may support scrapping or write-off opportunities.

Before renovating, investors should ask:

What assets currently exist?
Are they being removed?
Do they have remaining value?
Are they Division 40 or Division 43?
Were they previously claimed?
Are they second-hand restricted assets?
Will new assets be installed?
Will capital works be created?

A pre-renovation review creates a record before evidence disappears.

This is especially useful for:

Kitchen renovations
Bathroom renovations
Flooring replacement
Commercial fit-out changes
Tenant make-good works
Demolition
Major upgrades

Frequently Asked Questions

Why before renovation?

Assets can be documented before removal.

Is it too late after renovation?

Not always, but evidence may be weaker.

Does this apply to commercial property?

Yes, especially where fit-out is being removed.

What records should I keep?

Photos, invoices, demolition records and asset lists.

Can Koste.ai help before works start?

Yes. Koste.ai can trigger a pre-renovation review.

Read Full Article Free Calculator

pre-renovationdepreciation schedulescrappingrenovation

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