depreciation

  1. MelbPropMeeting

    Melb Prop Meeting Tues 21 Oct - How to Max your Cash Flow Through Depreciation

    Hi to all Melbourne based property enthusiasts and investors alike, I want to let you know that I run a monthly property meeting group at the Veneto Club in Bulleen (just off the Eastern Freeway). Everyone is welcome to attend. We have been running this group for over three years and we...
  2. M

    Looking for Depreciation Schedules report

    Hello, Can you please suggest good one who can prepare Depreciation Schedules report for me. Property is located in Ballarat, VIC and it is NRAS property. thanks
  3. C

    Depreciation claimed and selling IP

    Hi all I have claimed depreciation on my IP since purchase and I thought I remember reading that when selling an IP that you have claimed depreciation on, the amount claimed for depreciation needs to be paid back at sale time?? Did I make this up? Clarification please! About to see my...
  4. B

    Capital Works Deduction or Low Cost Pool?

    Hello, I have a few questions about an investment property. 1. Can capital works items (eg Built-in robe, rainwater tank) be included in the low-cost pool if the cost is under $1000 or is that only for non-capital works assets? 2. If a rainwater is rusty and leaking would a replacement...
  5. P

    Scrapping after fire - depreciation

    Okay, so our newly-extended IP has just suffered significant fire damage. Everything was brand new and the place had only been tenanted a week or so! Luckily we have both LL and building insurnance. Would I be correct in assuming that it would be worth getting a depreciation person in to...
  6. J

    Older Property: is depreciation schedule worthwhile?

    hi all... probably a silly question. Just bought an IP and found out it is 33 yrs old (nice bonus as we hadn't expected any depreciable value left). Built 1979. Can anyone advise how a quantity surveyor woudl calculate its original construction cost? I assume it was quite cheap to build in...
  7. Alex P Keaton

    Get a Depreciation Report? just for 2 years ?

    Do you think it is worthwhile getting a depreciation report for an ip you only plan to rent out for 2 years max? Will I make any money out of it and what happens if/when I move back into the property (turning it back into my PPOR) for a few years then turn it into an ip again later on. Wont I...
  8. C

    Do Depreciation Survey before or after Repair?

    Hi, Just bought my investment property in Perth & rented it out. Planning to get some works done around the house. 1) To replace gutter which have rusted throught 2) To replace swimming pool filtration system 3) To replace bath room tiles which have popped out when tenant moved in Does...
  9. P

    timing of shower base replacement - tax

    I'm soon going to move out of my PPOR as we are moving to Perth, and will rent it out as an IP. Our shower base is badly cracked. We plan to replace it with a new base. Would it be deductable if we do the replacement when the house is 'available for rent' but before tenant moves in... or...
  10. M

    New Security Door - Depreciable or not?

    All Probably been asked before and I think I know the answer just wanted a check Tenant has asked for a security door on the front of the house. We think its ok to have, but wanted a quick answer on depreciation. We have a schedule in place for the house, but as this is a new item is it...
  11. brendio

    Why does it matter if vendor has claimed depreciation?

    Saw this ad. Not one I'm thinking of buying, but the statement stood out to me: "DEPRECIATION NEVER CLAIMED - SUBSTANTIAL TAX BENEFITS" Why would it make a difference whether or not the vendor has claimed depreciation? Wouldn't the depreciation claimable for a buyer be determined...
  12. M

    New IP (Tax Questions)

    HI All I'm new to the game and rented out our PPOR as an IP to move interstate. As tax time is looming I am a little confused on 3 things. 1. Would i pay CGT on this house if selling to by another PPOR? 2. Is a depreciation review good to do? House is 3.5 years old. Rented since March...
  13. C

    Estimating Building Depreciation for a property

    Hi Everyone I'm interested in buying my first IP and I've got a couple of questions regarding estimating the building/capital depreciation. I need this to work out if this property will be close to being +ve cash flow (attractive) or -ve geared (not so attractive for me) a. How do I...
  14. Alex P Keaton

    Buy 1 bed & Renovate or Unrenovated 2 bed

    Hi guys, I am curious what you guys would do! If you were starting out and financially could afford to buy either a 1 bedroom unit and renovate it or buy a 2 bedroom unit without renovating (because of the lack of extra cash to renovate it) What would you choose? Options a. 1 bedroom...
  15. Luke

    Excel formula qn - Extending a Depreciation Schedule...

    Hey all, looking for an excel guru out there I have a six year old depreciation schedule, and I need to figure out how to extend the useful life of it... (you're speaking to my accountant) As it stands, I know everything on a standard DepSched. - original cost, already claimed, the residual...
  16. E

    Can I claim depreciation on an IP when I move back in?

    Here is my situation, I am returning from the UK after living here for a few years, I rented out my PPOR effectively turning it into an IP. On my return I plan on moving back into that property until we find a new place. What I need to know is can I claim the depreciation on that property...
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