Hi guys,
I'm currently looking at a unit in Sydney that has been converted from a nursing home, to a block of 8 new apartments by a developer. This will be a PPR and then a IP after 6-12 months. How will depreciation work on this building, as compared to a dwelling that was completely new?
Any thoughts would be welcome.
Dean
The vendor may already have a depreciation schedule prepared for the building, ask the agent. The main depreciation that you will get benefits from will be work which was done inside of your unit eg kitchen, bathroom, carpets, painting, services etc. Depreciation on the structure is usually very low, only 2.5% pa but the building may not have had the benefit of depreciation due to when it was built.
Hi Dean
Quite a complex query. If you want some free advice give me a call tomorrow.
Regards
Tyron hyde
wwww.washingtonbrown.com.au
Tyron
Might want to take one of those "W''s out of your website signature unless you have started something new.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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