1 Strata unit property owners are entitled to claim depreciation on 'common areas' and 'common plant'. 2 Immediate deductions are available for items costing $300 or less. 3 A tax depreciation report is tax deductible and should be updated to include renovations, alterations and additions to plant and equipment. 4 80% of investors overpay their income tax! 5 Renovations, extensions, repairs, and write-off of demolished works can provide additional opportunities for the investor to increase the deductions and return on their property. 6 Property tax allowances are a valuable aspect of any property investment due to their ability to enhance an investor’s return and produce a healthier cash flow, by correctly claiming and maximising the available deductions.