building and plant depreciation

[monster24]

Hi there,

can some experienced investor/taxation expert explain the differences and the percentages involved. I understand that the building allowance is 2.5% but how much can I claim for plant. Is it also 2.5%?
We have just build our first IP to finished soon. The block of land was $129K and the build $170K. How can I (roughly) estimate the depreciation ??
Thanks
Thomas

 

[depreciator]

Plant (fixtures and fittings) depreciate much more quickly because they wear out more quickly.
If the place cost you $170K to build, you may find about $155K of that is building @ 2.5%.
The other $15K will depreciate much more quickly - you'd probably claim around $3-4K in the first year.
The above is pretty rough. If you send me what you've got in the inclusions etc I can be more accurate.
Scott

 

[monster24]

Thanks Scott !! Yes, I can send you the details. What do you need for a detailed depreciation schedule ? Plans, inclusions, legal costs, etc ?
Thanks
Thomas

 

[depreciator]

We always like to get as much stuff as possible. Give me a call and we can chat about it.
Scott