Only 52 per cent of Australia’s 2.2 million property investors claimed capital works deductions, according to Australian Taxation Office data, suggesting many were paying more tax than they needed to. PIPA chairman Peter Koulizos said some landlords wrongly assumed the 2017 changes to plant and equipment depreciation had removed the entitlement, when a property with $300,000 of structural value could return about $7,500 a year.
Reported by
Anthony Keane, Daily Telegraph, 5 October 2021
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