Furnished rentals can include significant Division 40 assets.
Examples include:
- Beds
- Sofas
- Dining tables
- Chairs
- Outdoor furniture
- Televisions
- Fridges
- Washing machines
- Dryers
- Desks
- Mattresses
- Small appliances
For short-term accommodation, private use and availability for rent need to be carefully recorded.
For second-hand furniture already in a residential property at purchase, annual depreciation may be restricted.
Koste.ai can help investors keep a furniture asset list, including cost, date, condition and use.