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Thanks for clarifying, Paul. I'm happy to defer to you on this one. I was only going on the fact that TR 97/25 only applies to Division 43. For several obvious reasons we discourage people from doing this (and now it seems we have another reason) and I was merely bringing it up as a last resort...

Glad to help. We would only have been able to do the depreciation schedule for you with a visit to the property pre-demolition and wouldn't be comfortable doing it without an inspection. While accountants can't assess capital works, they can put values to fixtures and fittings, so if you...

I bet some do. Somersoft member fullylucky comes to mind as someone who might try. Just to get this straight: are you asking if you can fudge the figures and/or if I can help you do so? The most I could say is that if you have photos of the plant and equipment items installed in the property...

The issue is that you didn't have a depreciation schedule in the first place. Scrapping is the second part of a two-step process: to get the scrapping deduction you need to have a value to scrap. We cannot value the assets in the original house now that it is rubble, I'm afraid.

Hi MTR, Just to add two cents from another QS firm, it does sound like scrapping is not for you in this case. I talked to a lady on the phone an hour ago who was planning a demo and was then going to subdivide the land and just sell it. I told her she wasn't eligible for scrapping and would...