I am seeking a general opinion! is it worth getting a depreciation schedule done on a property that is nearly 30 years old or would it be a waste of money!!
It would probably depend on how new the fittings are. eg Hotwater system may not be 30 years old, same with the carpet etc.
I think some of the depreciation companies will assess whether it is worth doing over the phone, by asking you a few questions.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
One of the bigger companies claim you would get back what you paid for your schedule in the first year. I think it might be depreciator.com? Anyway, as Terry suggested, give them a call and have all of the details ready, what building its made of, any recent improvements etc… It will also make a big difference if it is wither a 4 bed house compared to a 1 bedroom apartment.
Tracy
PS I use BMT and assoc by the way and have always found them thorough. http://www.bmtqs.com.au
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