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Say the QS valued the carpets at $10000 when you acquired the property your written down value now might be say $1000 and your contract would say that depreciable items included in the sale are deemed to have a sale price equal to your written down value.

What happens is that the cost base is reduced by the Division 43 allowances, so in effect say it was $10000 per year for 5 years the cost base would be reduced to $235000. However, I agree with you that the there is not likely to be much CG. Based on the $285000 purchase price, then the 2.5...

I think you have two different issues: 1. Depreciable items excluding the building - you can nominate the sale price of these is there current written down value. 2. the building write off amount. This is the amount that gets added back on to calculate CGT