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Can I amend prior year tax returns to claim missed depreciation?

Published 26 June 2026 · Last updated 26 June 2026

Quick Answer

You may be able to amend prior year tax returns to claim missed depreciation, depending on amendment time limits and your circumstances. Your accountant should confirm whether amendments are available and worthwhile.

Investors sometimes discover they should have been claiming depreciation years earlier.

Potential options:

Amend prior year returns within the allowed period
Claim future depreciation from now on
Update the depreciation schedule
Review missed capital works
Review new assets and renovations
Prepare CGT cost base records

The available amendment period depends on taxpayer type and circumstances.

A depreciation schedule can usually provide year-by-year deductions, making it easier for the accountant to assess prior-year amendments.

Frequently Asked Questions

Can I claim missed depreciation?

Possibly, depending on amendment time limits and circumstances.

How far back can I amend?

Your accountant should confirm based on your taxpayer position.

Do I need a depreciation schedule?

Yes, it helps calculate year-by-year claims.

Can I claim future depreciation only?

If amendments are not available, future claims may still be possible.

Can Koste.ai help?

Yes. Koste.ai can support a depreciation schedule request.

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