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In some of Scott's (Depreciator) posts, he has mentioned that you can self assess asset values yourself. How do you so that and what information/assumptions will the ATo be expecting? Also, can you do all assets ie assets <$300, low value pool ones, assets >$1000 and building construction...

Thought i would start a new thread. Based on the previous thread on low value pool (LVP)here, I had some thoughts. What do you learned tax people think about these scenarios: Scenario one: I buy an airconditioner for under $1000 and install it in my IP. I add the A/C to the LVP...

I've just settled on a new IP on Friday - yeah! I have just spent the weekend doing minor jobs around the house - painting inside cupboards and general touch ups, installing a flue, changing power points, spraying weeds. All individual items purchased were under $300 and the house is on the...

Howdy all, With Christmas coming up, I thought it would be nice to get my business associates (especially the ones that give their time freely.....don't forget the moderators of these forums..;)) a gift. I understand that this is tax deductible but I'm not sure of the $ limit of each...