There are two ways to calculate depreciation on plant and equipment in an investment property - by using the diminishing value method, or the prime cost method.
NT deals already falling over on "whiff" of land tax: REINT
The REINT says introducing a land tax would drive investors away from the Northern Territory and accelerate the decline in population, at a time when the economy is already in a precarious situation.
ATO employs new tools to scrutinise rental property market
The Australian Tax Office is ramping up scrutiny of the rental property market in a bid to stamp out rorts, and from next year will begin approaching real estate agents for information, reports The Australian.
New depreciation laws came into effect earlier this month, in one of the most dramatic changes to property depreciation legislation in more than 15 years.
