Depreciation

[badbob]

Can one claim depreciation on a rental property as an expense?

 

[Kerry Gooner]

No afraid not.

 

[Pat Bateman]

Can one claim depreciation on a rental property as an expense?

Kerry Gooner speaks the truth.

Depreciation is just an accounting charge and not a "real expense".

 

[Mrs Vimes]

you can, however, claim wear and tear on fixtures and fittings and furniture.
Sybil

 

[badbob]

yes so I believe, but what is a reasonable total for same. When I totalled "most"of fixture and fittings - came to 15,000, is this very high? (current value)

 

[Kerry Gooner]

Allowed to claim 12.5% of €15000 for each of the next eight years.

 

[badbob]

Petermack, thanks for reply, yes residential letting - the reason I referred to current value is that the property was our family home before letting so furniture etc. was not all new. Am I correct in thinking I can assess the current value of same and claim wear and tear as above?