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Hi Owen, You'll forgive me if I don't answer your question about who I use for my QS reports - you are quite right about the cowboys out there and the potential abuse of the system. The rules do apply to all, but it is in the interpretation that lawyers have a field day;) One must know...

OK Owen, here's the scnario - I use a QS and they ask me if I have a receipt for the new item; I answer 'no'. The QS then assigns a value to the item which is then used for depreciation purposes. Question: Am I in breach of the ATO rules? Regards, Michael Croft

Hi Ross, Firstly I have never set out to deceive the ATO, if I had put my vanity on the open market for sale it would have fetched about a thousand dollars. To be fair to the QS there was a top and taps too. Get quotes from 'Fix It' type organisation to have all the power points light...

Hi Owen et al, Value is a subjective thing, my s/s mixing bowl vanity looked a thousand bucks. I can also see the tax auditor coming to an IP screw driver in hand, taking the powerpoints or switches off the walls and then determining if the wiring was new or 20 years old. Regards...

Hi Luke, In addition to Geoff's suggestions tell the QS the bare minimum. eg. put in new switches and power points in all properties which cost about $300. The QS assumes that the houses/units have been rewired so a +/- $3,000 depreciation allowance is given. This has happened EVERY...