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Depreciation / ETAX
No - You are here and I wouldn't class you in that pool.- Paul@PFI
- Post #14
- Forum: Accounting and Tax
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Depreciation / ETAX
1. Yes it does. The LVP threshold applies to EACH taxpayer. One pool each. Have a chat with BMT about the merits of getting one schule per owner v;s the property :-) This can accelrate deductions for newer props. For older props it waste of air. 2. Multiple item in year on ebut in subsequent...- Paul@PFI
- Post #6
- Forum: Accounting and Tax
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Depreciation / ETAX
Just ignore the LVP field. Simple. Use the rent schedule. The LVP makes no sense but follows tax law. It bypasses the Adjusted Taxable Income tests (Medicare Surcharge, HELP debt etc) and I have argued for some time that the tax law relating to LVP is inconsistent with the originating law...- Paul@PFI
- Post #5
- Forum: Accounting and Tax
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Depreciation / ETAX
I am a property tax agent / specialist and I never use the LVP field. I enter the deduction to the Rent schedule. I wont go into the finer details why as its quite complex. Its a consistency issue. I just use Div 40 (Depn) and Div 43 (CA) total from the BMT schedule and enter that to the rent...- Paul@PFI
- Post #3
- Forum: Accounting and Tax
