Hi All,
I will be renting out my PPOR in 2 months time.
Does it matters that i have the depreciation valuation done now or in 2 months time closer to renting it out?
Cheers
NitIn my view, the valuation can be completed now and would satisfy the ATO requirements of an accurate assessment, i.e. Carpet will not depreciate over the next two months (effectively one by the time you get the formal documents from the quantity surveyor).
Curious, if the valuation is done now while i am still living instead of renting it out, is the fees still tax-deductible?
Anyway, even if after renting it out, without this fees, the overall costs is still -ve geared.
Ta
NitI believe the quantity surveyor can formulate the depreciation schedule taking into account the date of occupation by the tenant. The cost of the schedule is of course a tax deduction against the rental income for the property. You will need to make it clear to the QS what items are remaining when the property is rented out.
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