Rental Property Depreciation
Maximise the tax deductions on your rental property with a fixed-fee, ATO-compliant depreciation schedule prepared by Mintax Quantity Surveyors. One inspection, one report — and more money back in your pocket every tax time.
Are You Claiming All the Depreciation on Your Rental Property?
Most rental property owners in Victoria are not claiming their full depreciation entitlements. The ATO allows investors to deduct the natural wear and tear of a rental property over time — but only if those deductions are properly identified, calculated, and documented in an ATO-compliant depreciation schedule.
Mintax prepares rental property depreciation schedules for investors across Melbourne, Geelong, Ballarat, the Mornington Peninsula, Gippsland, and Phillip Island. Our reports are prepared by qualified quantity surveyors and designed to capture every dollar you're legitimately entitled to claim.
What Is Rental Property Depreciation?
Division 43 — Building Structure (Capital Works)
This covers the structural elements of the property — walls, roofing, floor, built-in cupboards, wiring, plumbing, and more. If your rental property was constructed after 15 September 1987, you can claim 2.5% of the original construction cost each year for up to 40 years.
When you own a rental property, the building and its fixtures naturally decline in value over time. The ATO recognises this decline as a legitimate tax deduction — known as depreciation. There are two categories:
Division 40 — Plant and Equipment
This covers removable assets within the property — carpets, blinds, air-conditioning units, hot water systems, ovens, ceiling fans, and similar items. Each asset has an effective life determined by the ATO, and can be depreciated accordingly. Note: if you purchased an existing residential property after 9 May 2017, restrictions apply to second-hand plant and equipment.
How Much Can You Claim?
The amount varies significantly depending on the property's age, size, construction quality, and renovation history. As a general guide:
Newly constructed properties offer the highest depreciation claims — often $10,000–$20,000+ in the first year
Properties built between 1987 and 2000 typically offer $3,000–$8,000 in annual deductions
Older properties (pre-1987) may still have claimable plant and equipment items and renovation works
Real example
A Mornington Peninsula investor with a 1998-built four-bedroom rental home received a Mintax depreciation schedule identifying $6,200 in first-year deductions — a deduction they had been missing for three years prior to engaging us. Results vary by property.
Common Misconceptions About Rental Property Depreciation
'My property is too old to claim'
This is the most common misconception we encounter. Properties built before 1987 cannot claim Division 43 capital works, but plant and equipment items and any renovation works — by you or previous owners — may still be fully claimable.
'I bought a second-hand property, so I can't claim anything'
Not true. Division 43 capital works deductions are still available regardless of whether you're the original owner, provided the property was built after September 1987. The 2017 legislative changes only affect second-hand plant and equipment items.
'I can estimate the depreciation myself'
The ATO requires that construction costs be estimated by a qualified quantity surveyor where they are not known. An inaccurate or unsupported schedule can be disallowed in full during an audit.
What's Included in a Mintax Rental Property Depreciation Schedule
On-site property inspection by a qualified quantity surveyor
Division 43 capital works assessment
Division 40 plant and equipment assessment (eligible items only)
Identification of renovation works by prior owners
Low-value pooling where applicable
40-year schedule valid for the life of the property
Both prime cost and diminishing value methods provided
Accountant-ready PDF and CSV (where requested)
Ongoing support — call Aaron or Geoff on 1300 826 296 with any questions
Areas We Serve
We prepare rental property depreciation schedules for investors across Victoria including:
Melbourne — all metropolitan suburbs
Geelong and the Surf Coast
Ballarat and Central Highlands
Mornington Peninsula
Gippsland
Phillip Island
How to Get Started
1. Tell Us About Your Rental Property
Share your property address and a few basic details. We'll confirm what you're likely entitled to claim and provide a fixed fee — usually within the same business day.
2. We Visit Your Property
A qualified quantity surveyor inspects your rental property at a time that suits you and your tenants. We identify every claimable asset — from the building structure through to carpets, blinds, and appliances.
3. Start Claiming at Tax Time
Your depreciation schedule is delivered within 5–7 business days and is valid for the full life of your property. Give it to your accountant each year and let the deductions work for you.
Frequently Asked Questions
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Yes — each property requires its own schedule as construction costs, asset types, and renovation history are unique to each property.
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Yes, in many cases. You can amend prior year tax returns to claim previously missed depreciation deductions. Speak to your accountant about the best approach for your situation.
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No. The ATO requires a qualified quantity surveyor to estimate construction costs where original costs are not known. Accountants can use the schedule to prepare your return, but cannot prepare the depreciation schedule itself.
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We typically deliver completed schedules within 5–7 business days of site inspection. Contact us if you have a deadline — we'll do our best to accommodate.
Get started today.
Request a fixed quote today and see exactly how much you can claim.