Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

As the owner of a unit or apartment, am I entitled to claim Depreciation on Body Corporate or Common Areas in the complex?

April 26, 2017apartment areas body claim common corporate depreciation entitled owner

0

Posted

As the owner of a unit or apartment, am I entitled to claim Depreciation on Body Corporate or Common Areas in the complex?

1 Answer

0

Posted

Yes. As an investor in a complex or apartment building, you also own a percentage of the Body Corporate or Common Areas. Your Tax Depreciation Schedule will include depreciation of all Body Corporate or Common Areas for your complex, based on your percentage ownership of same.