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FL - the example I used earlier was constructed on a property I paid $715k for in 2008. Here is a pic. The old house, if still standing would probably be worth about $900k today. Do you think that the old house would have similar (though only slightly less) depreciation than the new place? The...

Said the economist.

FL - you keep referring back to "the video". You know, the one on you tube (which is a clear and obvious substitute for a real qualification) and focus your attention on one small point "you can do this calculation yourself..." However you seem to ignore the second, and probably more pertanent...

I'm nearly insulted I'm not on the list.... Nearly

What.... No. This is way too much fun It gets a bit boring when newbies come on board. Ask for advice, listen, go and do it right, and then come back gushing about how great we all are. Much more fun to have some ask, question, ignore, then continue to argue they are right despite about...

Indeed. You are correct. I used the wrong column in your matrix. Apologies. Your spreadsheet is within +/- 20% of the correct figure. Hope that works out for you. Blacky

I did go to a profesional - thanks. Its a stock standard house. Nothing exceptional about it. Your figures are out slightly. Assuming I am using the diminishing value method (which I am according to my proffesionally qualified accountant). Assuming I am using your 'Max' numbers your...

I will humor you. $850k purchase price. Ready... Go. If your result is higher depreciation you go to gaol. If it is lower you have missed out on potential depreciation benefit a (and will likely go to gaol as well) Unless your answer is 100% accurate you lose. And oh, even if it is...

Well, that's one way to end an argument. Kudos coastymike!! Blacky

I recently had depreciator do a couple of reports for me. It cost less than $1,000 (for several). By my complex calculations it's worth 1 miss depreciated item, 1/10 of an Ato audit or less than 12 hours of my time. Personally not worth my time or risk to even bother attempting to do it...