Not to mention the 4% pa depreciation you can claim for some building categories.
Note that depreciating the construction cost reduces the property 'cost base'. Hence, when you sell the property your capital gain will be calculated from a lower cost base.
Fortunately, as I am sure you are all aware, if you have held the property for > 1 year you only pay CGT on 50% of the capital gain. I once sold an investment property after owning it for 1 year and one day.
