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You hit the nail on the head here. Your tag line says a lot too. I'm certainly getting better at folding my own parachutes and you have helped a lot in that regard. Thanks for the chat :cool:

This question was answered in the Q&A section of the API magazine too. The response was "Why can't you ask for another copy of the receipt?". The whole gist of it was if you own the property and have replaced an item, there must be a cost. If it cost you $1000 then you get to depreciate that...

Re: What is it worth Paul, It's worth whatever increase you can get out of it on your overall property valuation or rent increase. However, according to the legislation quoted in this API article you can only claim what you have spent. I hear what everyone is saying about the ATO...

Oops!! No hex intended....the bad karma might be returned in kind :p

Hi Glenn, Don’t worry, I am far from throwing in the towel but if I were you I would take a look at the API magazine article before dismissing it as misinformation. The author has something like 15 years experience as a quantity surveyor and is one of the principals of DEPPRO – pretty good...

I just got the latest API magazine in the post and there is an interesting article on depreciation schedules. The author who is from DEPPRO says that the law states you cannot claim depreciation for things you haven’t paid for. This puts a bit of a hole in the idea that you get things cheap or...