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You can only claim deductions for the period during the year that the property is rented or is available for rent. If you live in a property and intend to rent it out in future, investment property depreciation is not available to you until it is used for rent generation.
The investment is called Depreciation Fund Investment. At the end of the life of the existing asset, the Investments can be realised and with the proceeds, a new asset can be purchased. Only when there is an asset representing the Depreciation accumulations, it can be called Depreciation Fund. While debiting the expenditure account, we are not crediting the asset account.