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What’s Tax Depreciation Schedule?

Tax Depreciation ScheduleA Tax Depreciation Schedule is a legal document that shows how much depreciation entitlement the asset owner(s) can have for each year. It covers both Capital Works deductions for buildings and structures (Division 43) and Plant and Equipment allowances (Division 40/42). Since the tax rules change every year, the tax depreciation schedule would vary according to regulations during the year the assets are acquired.

Once the tax depreciation schedule is made, it can be used for up to 40 years. The cost of getting a Depreciation Schedule is 100% one-off tax deductible immediately.

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