All Topics / Help Needed! / Depreciation Report

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of AndrewAndrew
    Participant
    @ands
    Join Date: 2014
    Post Count: 2
    December 23, 2014 - 8:10 am

    Hi,

    I bought a property off my father in law and he has given me his depreciation schedule.

    Am I able to use this or do I need to get another report done?

    It has details up to June 2017.

    Cheers.

    Profile photo of BuyersAgentBuyersAgent
    Participant
    @knightm
    Join Date: 2005
    Post Count: 338
    December 23, 2014 - 8:33 am

    Is the property for investment? Probably need to check with your accountant about this but personally I would get a new one. Most 2nd hand property transactions have the benefit of the ATO assuming you don’t have the previous details, and you can usually claim off a new DS, which will get you more tax back over more years. Technically this might mean you “should” use the existing one. Call your accountant I think would be safe.

    BuyersAgent | Precium
    http://www.precium.com.au
    Email Me | Phone Me

    South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.