How can you update your depreciation schedule after changing or disposing of property assets?
If you own commercial property, you can claim depreciation as a tax deduction for the wear and tear of your building and its assets over time. However, if you make any changes or disposals to your property assets, you need to update your depreciation schedule accordingly. This will ensure that you maximise your deductions and avoid any errors or penalties. In this article, we will explain how you can update your depreciation schedule after changing or disposing of property assets.