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Chris

  • Chris replied to the topic Live in a great investment that was our first home. in the forum Help Needed! 5 years, 9 months ago

    It could still be lucrative, though. Have I missed above anywhere where it says how old the building is? Deductions from depreciation could still be in the thousands p.a. for quite some time.

  • Chris replied to the topic Live in a great investment that was our first home. in the forum Help Needed! 5 years, 9 months ago

    <quote>
    3. Depreciation of fixtures and fittings won’t be available because the house is not new. Only building works could be claimed.
    [/quote]

    It could still be lucrative, though. Have I missed above anywhere where it says how old the building is? Deductions from depreciation could still be in the thousands p.a. for quite some time.

  • Chris replied to the topic New Depreciation Rules in the forum Help Needed! 5 years, 9 months ago

    Probably, yes.

    The occasional/incidental use rule is a grey area and there’s information on the ATO website that we believe is soon going to be out-of-date. At the moment we feel like anything more than a week (say, on an annual basis) could very well test the definition of “occasional”. That advice has come from the NTAA.

  • Chris replied to the topic Tax, gearing, depreciation, new build. in the forum Help Needed! 6 years, 2 months ago

    Hi Codie,

    I saw your post and it interests me. I’m going to have to step in and say that I agree with some opinions already given: $27 000 in first-year depreciation seems a lot for a build cost of this size. I would estimate more in the realm of a bit over half that. Maybe think more in a window of $12 500-$15 500, the lower end of that…[Read more]

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  • Chris‘s profile was updated 7 years, 10 months ago

  • Chris became a registered member 7 years, 11 months ago

Chris

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