I’m looking at moving an exisiting house onto a vacant block, doing some renovations etc and renting it out. The project would require new stumps, plumbing and power connections etc
Does anybody know what the depreciation position would be ? Would it be treated as a new dwelling or not ? Can the cost of transporting of the house be included in the cost of the house ?
The house has been at it’s current location for approx 40 years.Originally posted by GH:I’m looking at moving an exisiting house onto a vacant block, doing some renovations etc and renting it out. The project would require new stumps, plumbing and power connections etc
Does anybody know what the depreciation position would be ?
Id say contact Scott from Depreciator or one of the other respected Firms
Would it be treated as a new dwelling or not ?
Wouldn’t think so..It’d be treated as per the norm, then add renovations etc..prob best to get the report done first though..prior to moving
Can the cost of transporting of the house be included in the cost of the house ?
It can be added into your costs for tax purposes
The house has been at it’s current location for approx 40 years.
Id say work off that mark then unless you know its full history“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi GH,
The house itself would not be depreciable – too old.The cost of getting the house to the new site would in all likelihood not be depreciable. Your accountant may think of a way to expense this?
Work done to the repositioned house – stumping etc – would be depreciable.
Scott
Tax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.au
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