Hi All,
a question on depreciation. Is it better to buy a new property and therefore receive the taxation benefits of full depreciation — or if you buy a property, perhaps one or two years old, are there any downsides in terms of loss of depreciation benefit.[blink]Are there any useful sources to read up on depreciation.[eh]
Thanks
Helen[cap]
Hi Elika,
There are depreciation benefits buying new properties as you get full depreciation claims (assuming you held the property for its full depreciable life).
However depreciation benefits should not be the sole reason for buying an investment – potential growth and/or rent returns are the key reasons for buying a property.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
In answer to your question on useful sources of information on depreciation, I’m afraid there aren’t many.
It’s hard work wading through the ATO site.
My site http://www.depreciator.com.au has some stuff but it’s a bit lame in parts. Updating it and adding more information is one of those jobs we never quite get around to.
To be honest, this forum would be the best resource around. Do a search under ‘depreciation’ and there will be plenty of reading.
Or feel free to give me a call if you have loads of questions and don’t want to post them all.
Scott 1300 660033.
Hi Depreciator,
thank you for your kind offer to provide advice re depreciation. Will call you next week.
Regards,
Helen[cap]
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