My accountant said there is no point to have a depreciation achedule for my investment property as it was built before 1985.
It seems that I can still claim for the fittings and renovations (which was done by previous owner, if he hadn’t claimed, but does it worth paying for a depreciation schedule?Yes, you are right, it can certainly be worth to have a schedule done. I have an investment property that was built in 1930. I had a depreciation schedule done and I can still claim about $7000 a year- this is for some renovations, fittings etc.
If you can get hold of him, discuss this with Depreciator, who is a forum member. He is very knowledgeable and has been of great help to me and others on here.
Celivia
Your accountant doesn’t know everything.
Ask depreciator about his guarantee – if you don’t get more back than the cost of his report then the report is yours to use for free.
How can you not get one done on that basis?
Cheers,
Simon Macks
Residential and Commercial Finance Broker[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thank you, Celivia and Mortgage Hunter.
I will send an email to Depreciator and ask when is the good time to obtain the depriciation schedule.
The house balcony needs a bit of repair.
So now or after the repair….
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