Calculating depreciation in new Tax system

[Francoise]

From: Francoise B


Does anyone know if the depreciation rates for IP's have changed recently? If so, how does one calculate depreciation, and can the relevant info. be found at the ever-so-easy to use ATO website?

 

[WebBoard]

Reply: 1
From: Sergey Golovin


If we are talking about building it self -
is it 2.5% for next 40 years for the new once after 1987?

Serge G.

 

[WebBoard]

Reply: 1.1
From: Paul _


If the building is pre 1985, but there was some work post '85, are these components depreciable. i.e. second carport, back deck ,landscaping. etc.

Paul.

 

[DaleGG]

Reply: 1.1.1
From: Dale Gatherum-Goss


Yes.

However, you may need to ask a Quantity Surveyor to determine the costs for you so that the tax office have no basis to argue.

I hope that this helps

Dale