Happy New Year all
I was reading this on the personal investor website which I thought was a bit strange about going to investment property for maintenance and not being able to claim traveling expenses.
Surely they must be mistaken...
Hi Geoff
You would be suprised at how many interpretations of the what is plant and what is depreciable. What you have seems o.k as long as you or your accountant are quite happy to put under which appropriate heading.
Without giving names out, I had one that is registered member of the...
Hi All
Could I suggest that when asking for prices for Q.s Reports that you ask the Q.S firms whether they have heard about the Woodward v Commissioner of Taxation at the AAT hearing and whether they do their report in accordance with the outcome.
I think people might get a shock in how many...
Hi All
Q1. Please correct me if I am wrong. (wouldn't be the first or last
time). If you buy a new IP and you replace some cosmetic
items e.g kitchen benchtop or gutters etc, I understand that
you can't claim it as repairs but I believe it to be you can...
Hi good people
Just thought I would let you know that the ATO attack on depreciation scedule in Woodward case was to be appealed but has now been dropped.
The taxpayer in Woodward v FC of T 2003 ATC 2001 has withdrawn his appeal to the Federal Court against the AAT decision that no...
Hi Nicko
Sounds like you done really well.Could you tell me whether it is asbestos construction & your real estate management cost as a percentage if you don't manage it yourself.
much appreciated.
Brian H
Hi Fester
I am no expert by any means but I imagine the cost of getting them to redo it would be tax deductable.
But how much faith would you have in their new report.I dont know if your accountant might be able to adjust it the same after showing the article in case he or she has not yet...
Hi All
1...Is this considered as set in stone now or is it possible it will
change????
2...If people tell the ATO that they claimed on the QS report as
the depreciation case. What would the interest and penalty
from the ATO be if you advised them of the mistake...