Chattels are objects in your property that depreciate in value over time and need to be replaced in the future. Chattels are an important consideration in investment property as they provide tax depreciation benefits.
Chattels can include things such as light fittings, curtains / window fixtures and any other attached fixture to the house. The list of claimable fixtures can change over time and with government changes. It is best to hire a company to perform this evaluation. A company can come and inspect your investment property and mark the approximate value and purchase age of each item. When selecting a company to perform your evaluation ask for a list of potential things they might include in an evaluation and look for the one who is most creative. It may also be good to note that the government may occasionally review or audit these evaluations, especially when a government that favours the lower class comes into power after a government that favours the upper class.
Chattels can turn an investment property from negatively geared to positively geared on paper. As a chattel depreciates in value over time you can claim this on your tax. The higher your personal tax the more effective they will be. Chattels are claimable against your tax as the tax office considers that you are losing money, even though you are not literally spending anything.