All Topics / Help Needed! / Depreciation

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  • Profile photo of blockablocka
    Participant
    @blocka
    Join Date: 2010
    Post Count: 38
    August 4, 2010 - 9:18 pm

    Hi guyshow do I workout depreiation on my ip
    That was built in 2008 and I purchased in 09 for $530k

    Profile photo of cmasoncmason
    Participant
    @cmason
    Join Date: 2009
    Post Count: 53
    August 4, 2010 - 9:45 pm

    best to get a depreciation report done by a depreciator they will go trough the whole property and determine what is depreciable and for what length of time and put together a report of depreciable assets for the coming 7 or so years

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404
    August 4, 2010 - 9:50 pm

    I'd get a depreciation report done. There are too many things you can miss to make it worthwhile doing yourself.

    http://www.depreciator.com.au     is great. Send Scott an Email and he'll give you a quote. You'll get more than the cost back in one year. Well much more on a new place. I got back a few thousand on a really old place with no new fittings etc.
    The report covers the next 20 years. Just hand it to your accountant.


     

Viewing 3 posts - 1 through 3 (of 3 total)

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