All Topics / The Treasure Chest / Depreciation

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  • Profile photo of TonyinOzTonyinOz
    Member
    @tonyinoz
    Join Date: 2003
    Post Count: 1
    May 6, 2003 - 9:03 am

    This may have already been posted. Apologies if it has, newbie learning system

    I would like an opinion on the average total depreciation $ for a basic 3 bedroom 1 bathroom house.

    I’ve been working on $3-$4k in my figures after special building write off.

    Thanks and regards

    TonyinOz

    Profile photo of boods99boods99
    Participant
    @boods99
    Join Date: 2003
    Post Count: 13
    May 6, 2003 - 9:43 am

    tonyinoz…it all depends on :how old is the property, was it built before 1985?
    what fixings,fixtures does it have?
    best thing to do is get a quantity surveyors report done,this will outline every legal claim and rate of depreciation for different aspects of your investment property.Also quantity surveyors have to be registered with the ATO so you can rest easy with there figures. An accountant is not always the best person to do it for you as they are usually not up to date with all of the different depreciation rates.
    hope this helps

    Profile photo of TonyinOzTonyinOz
    Member
    @tonyinoz
    Join Date: 2003
    Post Count: 1
    May 6, 2003 - 12:02 pm

    Thanks Boods

    I appreciate that. I am organising this for the property that I already own. It was built in 1987 so the deductions are not a problem. I am looking at a couple of other properties and was looking for an average annual depreciation figure to do some forecasting.

    Thanks for your comments.

    Regards

    TonyinOz

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