Strata scheme - works to common area depreciable?

Hi all

I've recently bought an investment property which is under strata. While the building is too old to qualify for deprecation, the strata last year spent some capex on the common areas (new carpet, intercom, upgrade of drainage). Are these items depreciable for me even if i did not own the property when the money was spent?

Also, is waterproofing of a balcony considered repairs or capital in nature?

Thanks for your help!!

 

The QS needs to evaluate the Strata expenses and incorporate these costs and determine your share. Its normal for "old" buildings to still have depreciation + capital allowance deductions attributable to capital works. Dont assume its not worth doing.

Note that if you are paying special levies these are not deductible.

The balcony works are liely to be paid by the strata and can be discussed with the QS. Depending on the issue it may be capital expenditure. If its a repair it may be difficult to determine your share and I suspect it would be a initial repair in any event. ie you bought a property that had defects. Initial repairs arent deductible.