All Topics / Help Needed! / How to furnish an apartment

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  • Profile photo of petersemailpetersemail
    Member
    @petersemail
    Join Date: 2003
    Post Count: 13

    What is the best way to buy furniture to furnish an apartment? How do we claim it as a deduction?
    Thanks in advance.

    Profile photo of ShwingShwing
    Participant
    @shwing
    Join Date: 2005
    Post Count: 219

    It really does depend on the age and style of the property. There is nothing wrong with buying some thing second had at auction or even ebay etc. When furnishing a property you cannot forget the small things, like wall hangings, mirrors or painting, bookshelves, lamps etc fake plants are good.

    For depreciation purposed, I’d try and keep purchases below the $1000 value, this allows all the item to be included in the low-value pool of depreciation which attract a higher amount of depreciation in the early years.

    There are some depreciation gurus ‘Depreciator’ that may offer more specific advice re the depreciation.

    Mal

    Getting out of your comfort zone, can help you become comfortable

    Profile photo of giddogiddo
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    @giddo
    Join Date: 2005
    Post Count: 152

    I think you can claim furnishings, linen, bits and pieces and even bigger pieces in the very first year if they cost you less than $300.

    More than $300 you will need to deprec it over a longer stretch.
    I have done some of these and I allow about $7k per unit for all new stuff.
    This incl frig, washers curtains rugs, prints etc etc.[suave]

    Giddo
    http://www.standrewsplace.com.au

    “I am not a religious man; but if you are out there somewhere Superman, save me now! -Homer Simpson

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