A depreciation schedule is a great tool for property investors as it is considered a “non-cash deduction”. Unlike other property expenses that you need to pay out of your own pocket first, a depreciation schedule is paid for once, but it can be reused year after year to claim back legitimate tax deductions.

The Australian Taxation Office (ATO) gives specific guidelines to the way that assets are to be treated for depreciation purposes, with rental properties making up one of the biggest deductions available to investors. Unfortunately some investors fail to claim these deductions.