The question of “is my investment property too old to depreciate?”, is a common question that is asked by many investors of old investment properties. The particular question is also largely misunderstood. The short answer is (generally) “no”. You can claim depreciation on most investment properties. Therefore, old properties can benefit from depreciation. This is true as the majority of old investment properties have either renewed or updated structural items (e.g walls/roof) and plant & equipment items (e.g appliance, carpets etc.)