Tax Savings Write Offs · Koste Knowledge Base

What property deductions do investors commonly miss?

Published 26 June 2026 · Last updated 26 June 2026

Quick Answer

Investors often miss deductions for depreciation, capital works, common property, previous owner renovations, new assets and scrapped items. These deductions are not always visible in bank statements or property manager reports, which is why a depreciation review can be valuable.

Commonly missed property deduction areas include:

Division 43 capital works
Renovations completed by previous owners
Common property assets in apartments
New appliances and replacement assets
Carpet, blinds and air conditioning installed after purchase
Commercial fit-out
Tenant-funded works
Scrapped assets removed during renovation
Low-value assets
Capital works on extensions and improvements

Property manager statements usually show income and expenses they manage. They do not usually identify construction costs, depreciation, previous owner works or common property claims.

A tax depreciation schedule helps uncover deductions hidden in the building and assets.

Frequently Asked Questions

Are depreciation deductions shown on my rental statement?

Usually no. A rental statement records income and expenses but normally does not calculate depreciation.

Can older properties still have missed deductions?

Yes. Older properties may have renovations, capital works, common property or new assets.

Can common property be claimed?

Apartment owners may be able to claim a share of eligible common property deductions.

What if I do not have renovation invoices?

A quantity surveyor may be able to estimate eligible construction costs.

Should I review my property every year?

You should review it whenever renovations, new assets or major property changes occur.

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