New user to PIA and also first time on forum so bear with me if I am asking a dumb question.
From what I can tell, PIA seems to work best with the purchase of a brand new investment property with the only limitation that I can see being the fact that you can't say - for instance - that you purchased the property half way through the year. Is this correct? Is there a way around this?
Where I am having real troubles is trying to tell PIA that the property that we bought is two and a half years old and that depreciation that would otherwise have been claimable in the first two and a bit years is gone and that we can only take the remaining depreciation life into account. Have I missed something? I am trying to work out the cash flow over the next few years but PIA is trying to give me greater depreciation - especially with the fixtures - that I am entitled to.
Hope someone can help.
From what I can tell, PIA seems to work best with the purchase of a brand new investment property with the only limitation that I can see being the fact that you can't say - for instance - that you purchased the property half way through the year. Is this correct? Is there a way around this?
Where I am having real troubles is trying to tell PIA that the property that we bought is two and a half years old and that depreciation that would otherwise have been claimable in the first two and a bit years is gone and that we can only take the remaining depreciation life into account. Have I missed something? I am trying to work out the cash flow over the next few years but PIA is trying to give me greater depreciation - especially with the fixtures - that I am entitled to.
Hope someone can help.
