Capital Works

refer to the structural elements and construction costs associated with a building or property. These include the expenses incurred for the initial construction or substantial renovation of the property, such as the foundation, walls, roof, floors, and other permanent structural components. Capital works are subject to depreciation deductions under Division 43 of the Income Tax Assessment Act 1997, and the deductions are typically spread over the property’s effective life. Accurate assessment of capital works is crucial for property owners and investors to maximize their depreciation claims.

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