From 1 July 2017 onwards depreciation on plant & equipment (e.g. dishwasher, air conditioner, etc) will be limited to outlays incurred by property investors.
Investors who purchase plant & equipment for their residential property investment after 9 May 2017 will be able to claim a deduction over the effective life of the asset.
If the plant and equipment was purchased by a previous owner of the property then no deduction can be claimed by the new owner if the property is purchased after 9 May 2017.
