Depreciation Schedule question ?

1st time poster, but I've been reading these forums for quite a while now.

I've got a question regarding a depreciation schedule – probably one for any of the accountants out there.

Background: I had an IP built during 2006 – Construction was completed and I commenced renting it out late 2006.

Present: I'm currently in the process of having a quantity surveyor generate a depreciation schedule. I know I should have got it done prior to 30Jun this year but there is not much I can do about that now.

Question: Can I utilise a depreciation schedule generated post 30Jun08 in this year’s tax return (2007/2008)?

Reason: I've recently been informed that due to changes in the ATO legislation, as of 31Oct08, IP owners will only be able to back claim depreciation deductions up to 2 yrs as opposed to the current 4 yrs.

This has me a touch concerned because if I can't utilise the depreciation schedule when my 2007/2008 tax return is submitted then I may miss out on a small proportion of the deductions available.

I've had a look at the ATO website but I can't find anything definitive and would like to know in advance prior to my accountant doing my tax return.

I look forward to any replies and thankyou in advance for your time. 

Cheers

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