Understanding ATO's New Restrictions on Depreciation for Certain Properties
The Australian Taxation Office (ATO) has confirmed that specific commercial properties can now be subject to new restrictions.
These restrictions apply only to residential premises used for providing accommodation. Residential premises are defined as land or buildings intended for or currently used for living purposes, including floating homes.
The ATO clarifies that premises qualify as residential if they offer shelter and basic living facilities, whether currently occupied or intended for future use. These include places suitable for human habitation and equipped for residential living.
Premises lacking essential living features do not fall under the residential category.
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