Ah, tax depreciation rates—the thrilling saga of how the government lets you write off your assets over time. In Australia, these rates depend heavily on the asset class and effective life as determined by the ATO. Typically, plant and equipment might depreciate at rates ranging from 10% to 40% per annum, while buildings usually get a gentler touch, around 2.5% to 4%. Residential rental properties enjoy capital works deductions at about 2.5% per year over 40 years.
Keep in mind, these rates can be fiddly, and mixing old and new assets complicates matters. For precise figures and specific cases, dive into the ATO’s official guidelines or consult ServiceCentral for tailored advice.
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