Can you send me your Depreciation Schedule?

[fullylucky]

"And thinking your little spreadsheet calculations are even remotely comparable to a properly prepared depreciation schedule?? I can't work out which are bigger"

Indeed. You are correct. I used the wrong column in your matrix. Apologies. Your spreadsheet is within +/- 20% of the correct figure.

Hope that works out for you.

Blacky

From one example with purchasing values in the low 300k and 400k i was able to model and be within +/-20% for a property with a purchase price of 800k... image if you guys instead of being stubborn did share your depreciation values....?

Also my guess is the bulk of the 20% error is with the value in the first year!... all the other years should be fairly accurate as I explained.

Also, what do you mean when you say +/-20%... which is it? I gave a range, maximum and minimum. Do you mean your actuals are -20% of the maximum set of values? if so then that means your values lay between my max and min set of values...?

Can someone else do another example, this time lower purchase values like in 400-600k range?

also why call my spreadsheet little...

The table and graph are just end products.. how do you know what calculations went behind it all?

 

[fullylucky]

If you can do the analysis, can you review these numbers between 1 & 44 & tell me within 20% the first 6 which will be drawn next week?

Anything is possible mate, with chaos algebra.

 

[sanj]

Being wrong by 20% is nothing to be proud of

 

[fullylucky]

Being wrong by 20% is nothing to be proud of

not if it's -20% from the maximum set... can you please read and think before commenting.

also 1.5 hrs of work.... and i get within 20%.... on my first try.... with limited data.... from someone who everyone thinks is "unqualified".

 

[sanj]

not if it's -20% from the maximum set... can you please read and think before commenting.

The figures are useless unless 100% accurate, If they're too low you're cheating yourself out of money and if they're too high the ATO isn't going to be happy with you.

Much easier to pay a professional to get it right and be liable for the figures claimed.

You are unqualified and a clueless buffoon but ultimately good for a laugh, pls continue

 

[fullylucky]

The figures are useless unless 100% accurate, If they're too low you're cheating yourself out of money and if they're too high the ATO isn't going to be happy with you.

Much easier to pay a professional to get it right and be liable for the figures claimed.

You are unqualified and a clueless buffoon but ultimately good for a laugh, pls continue

Do you even know what a range means? So you're telling me if two qualified QS both did a DS they would end up with a set of values that's "100% accurate" down to the last dollar and cent? remember now if they are $1 off then they are not 100% accurate... they are 99.8% accurate. Which of course isn't good enough.

 

[pinkboy]

Do you even know what a range means? So you're telling me if two qualified QS both did a DS they would end up with a set of values that's "100% accurate" down to the last dollar and cent? remember now if they are $1 off then they are not 100% accurate... they are 99.8% accurate. Which of course isn't good enough.

So what's the difference in percentage if your schedule and the schedule of a qualified person is $1 different?

Oh that's right, 100% different - because yours counts for squat!

pinkboy

 

[sanj]

Do you even know what a range means? So you're telling me if two qualified QS both did a DS they would end up with a set of values that's "100% accurate" down to the last dollar and cent? remember now if they are $1 off then they are not 100% accurate... they are 99.8% accurate. Which of course isn't good enough.

For this purpose your range is irrelevant and so is your unqualified opinion

 

[fullylucky]

So what's the difference in percentage if your schedule and the schedule of a qualified person is $1 different?

Oh that's right, 100% different - because yours counts for squat!

pinkboy

https://www.youtube.com/watch?v=RKDx..._7E?rel=0#t=45

1:20

and also this:

https://www.youtube.com/watch?v=g4ihX6rBYVg

2:12

"There's a big difference between what the video says and illegal... it's easy to jump on a bandwagon....

People are trying to get it through your head that you are not qualified to make up your own figures.
I actually feel the ATO needs to be alerted to this type of behavior.
?which is illegal and could/will cause you great financial pain. ?

?To the OP, you do realise the ATO reads this forum? Quick, get out of your jammies, because I think somebody from the ATO is knocking at your door right now?

?Personally not worth my time or risk to even bother attempting to do it myself. ? ? blacky

Your depreciation claim will not legally be recognised by the ATO. That is by far the biggest issue here.

He would want to be fully lucky when he invests like that and makes up figures for a depreciation report.

arguing that with the ATO with a DIY schedule

end of the day people who prepare Tax Depreciation Schedules, need to be registered as Tax Agents.

Did you read the part where it's not legal

qualified people. Which you are quite clearly NOT.

Still, FL, no hint of using a qualified person who is acceptable to the ATO."

Danwatto
fokas
skater
wylie
coastymike
Terry_w
Hobo
pinkboy
redwing

All have said it's illegal . Compared to what the video actually says: you can, if you choose to calculate depreciation yourself.

There is a big difference between illegal and "you can calculate yourself". Do you care to comment?

My guess is ... seeing how you guys can't add 5 numbers together correctly... if I were you I would also use a professional... but I strongly suggest when people tell you things. Stop and question the validity of what they are saying. Ask yourself questions like who said it, can you confirm the source, are both sides of the story heard? do they gain from positioning me in certain way. instead of blindly believing everything you are told. Seems like your "professionals" have brainwashed you into thinking you need to have qualified shoe lace tiers otherwise it's illegal.

 

[hobo]

Feel better now?

Man, you're a hoot. Please continue.


P.S. That's probably the most distinguished list I've ever been included in!

 

[fullylucky]

Feel better now?

Man, you're a hoot. Please continue.


P.S. That's probably the most distinguished list I've ever been included in!

Ok, I will continue. hobo your only power is to suck up and regurgitate wrong information. Instead of addressing the topic.... change it.

 

[Mr. Fabulous]

fullylucky, you are officially my new favourite forum member.

 

[wylie]

... you guys all say you are property tax experts do you know the answer? If not? why not?

"You guys"... who is "you guys" who all say they are "property tax experts"???

Some property tax experts have answered for you, which you are ignoring, telling them you know better.

Most of us are saying we PAY property tax experts, and lots of other experts in order to gain the tax advantages, legally, and without risk of waking up staring at Bubba.

 

[fullylucky]

"You guys"... who is "you guys" who all say they are "property tax experts"???

Some property tax experts have answered for you, which you are ignoring, telling them you know better.

Most of us are saying we PAY property tax experts, and lots of other experts in order to gain the tax advantages, legally, and without risk of waking up staring at Bubba.

What's bubba? who is bubba?

Bubba Fett? *Boba fett

 

[Scott No Mates]

i was able to model and be within +/-20% for a property with a purchase price of 800k... image if you guys instead of being stubborn did share your depreciation values....?

Can someone else do another example, this time lower purchase values like in 400-600k range?

One minor inaccuracy in your figures FL, the qs does not base their analysis on the purchase price. How do you adjust for value at date of purchase without having construction costs or an advanced understanding of building cost estimates?

People are trying to get it through your head that you are not qualified to make up your own figures.

I'd agree 100%, people aren't qualified to make up their own figures. That is the point, you can't just make up figures or the ATO, ASIO, CSIRO, CSI, NYPD Blue or someone with better things may just find out.

 

[neK]

what's bubba? Who is bubba?

Bubba fett? *boba fett

“here’s a real friendly reminder. Don’t drive drunk. If you do and you get arrested, the next urinal you pee in will be in jail, with a hairy guy named bubba standing behind asking you to pick up the soap…”

bubba” is a name typically associated with “rednecks” or “white trash,” one of the few groups of white men who are believed to be violent, stupid predators the same way that black and hispanic men routinely are.

1234567890

 

[fullylucky]

Ok thanks neK for explaining.

also just wanted to ask... a genuine question....

 

[fullylucky]

I'd agree 100%, people aren't qualified to make up their own figures. That is the point, you can't just make up figures or the ATO, ASIO, CSIRO, CSI, NYPD Blue or someone with better things may just find out.

also Blacky, it's just a table not a "matrix".

 

[skater]

My guess is ... seeing how you guys can't add 5 numbers together correctly... if I were you I would also use a professional... but I strongly suggest when people tell you things. Stop and question the validity of what they are saying. Ask yourself questions like who said it, can you confirm the source, are both sides of the story heard? do they gain from positioning me in certain way. instead of blindly believing everything you are told. Seems like your "professionals" have brainwashed you into thinking you need to have qualified shoe lace tiers otherwise it's illegal.

We'll you know what Mr Unlucky, you can be as insulting and condescending as you like, but the truth of the matter is that there is a stack of investors here with some serious netwoth. You don't get into that situation by thinking you are a hero and trying to do everything yourself.

I'm more than happy to engage professionals. They save me time, save me money, and even save my sanity at times.

The more you post, the more it is blatantly clear that you have absolutely no idea what you are doing, and you are a train wreck in the making.

 

[fullylucky]

You don't get into that situation by thinking you are a hero and trying to do everything yourself.

I understand why society has division of labour. Why people specialize... i have read Adam Smith - wealth of nations...

http://geolib.com/smith.adam/won1-01.html

I'm not an idiot...

How can an idiot afford to buy an IP?



If you succeed, you succeed, but if not, all you gotta do is pick yourself up and try again... - Samantha, my 14 year old daughter.

Why do we fall?

So we can learn to pick ourselves up? But instead of trying... you just give up without even trying and pass the buck to someone else... scared... that if you try yourself that you will fail... for you, you have already lost since you can't even bring yourself to try.

A person who never made a mistake never tried anything new. Albert Einstein

I don't get rattled by setbacks, because I learn from my mistakes.

Some people die at 25 and aren't buried until 75 ? Benjamin Franklin

If you don't try and just give up then you have already lost.

Serious net wealth?
Sometimes for some people... it's not the destination that matters... the journey IS the reward. You fail to see that because your judgement is clouded by the tainted influence of your so called "professionals"... that see you as a dollar sign when you walk through the door.

The more you post the more glaringly apparent you are avoiding to accept that you are stubborn and wrong. Sorry to say that... but that's the truth.