The 2017 rule change mainly affected residential property investors who acquired second-hand plant and equipment after 9 May 2017.
If you acquired the property before this date, the restriction may not apply in the same way, depending on your circumstances.
Important factors:
- Acquisition date
- When the property became income-producing
- Whether the assets were used privately
- Whether ownership changed
- Whether the property was inherited or transferred
- Whether assets have since been replaced
- Existing depreciation schedule
- Accountant treatment in prior years