Is it worth having a QS report done on a house that is 50+ yeasrs old?
Cheers
Leigh K[
]Carve your own path and lead the way.
Hi Leigh,
I guess each situation is individual.We bought a 30+ year old house and our accountant who had previously explained to us about QS and their benefits, advised us against it. It is a very basic house and we replaced the air-con and stove, and the HWS is working ok, so we noted it’s age. It is 2-3 hours drive from the city -also a factor.
So, I guess it depends on a variety of things.
I’m only new but hope this helps.
Dianei would always get a QS in. if it costs you 400 dollars to have it done, and the report comes back with only 1000 dollars worth of depreciation a year, thats still 1000 dollars.
cheers
shaunLead, Follow or get out of the bloody way
Yes always. You’ll be surprised what they pick up on plus their charge is tax deductible
Leighk,
A QS will usually ask questions about the premises you are looking at having the work done for and will give you some guide.Many will give guarantees that the claimable depreciation is more than the cost. Of course it will need to be, because the despite being a deduction, you only get say if you are on the top tax rate, effectively 51.5% of the cost back from what you paid.
In saying that, all real life examples I have seen, clearly show a net benefit in doing getting a tax depreciation schedule done (These were for properties that were 30 years old).
James
Hi Leigh
I remember listening to a talk from a guy from The Depreciator (do a search, don’t have no.) who are a nationwide QS firm.
I remember him saying that if their fee works out to be more than the depreciation benefits from the QS report, they will not charge you.
Why not give them a go. At least they will let you know if it’s worth getting one done.
Brendon
Acute Mortgage Reductions
‘Better Finance for More Homes Sooner’Leigh K,
Some sites are
http://www.deppro.com
http://www.depreciator.com
http://www.washingtonbrown.com.au/site/index.cfmThey all give guaranatees as to the results of their TDS.
James
Thanks everyone, much appreciated
Cheers
Leigh K[]Carve your own path and lead the way.
]
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