Hi there
Can anyone recommend good accountants in Perth for dealing with CGT and property investment structuring?
Cheers!
Can anyone recommend good accountants in Perth for dealing with CGT and property investment structuring?
Cheers!
CGT/Property Tax experts in Perth
- Thread starter snow_white
- Start date
We are going to try Baggetta & Co - Paul appears to know his stuff in the property sector. ...will let you know how we go.
I use paul from baggetta and co. Investor himself and been in the property game a long time.
Worth a chat at the least.
Cheers
Depreciation query, advice please
Hi, I am a first time reader of these forums. My query is, I moved from my 6 year old PPOR this year into a house which is half owned by me. (The bank)
My accountant submitted an amendment to my tax return after I had obtained a second depreciation schedule. The first company despite being nationally known, did not deliver three months after payment so I asked for my money back. The upshot is that I received $800 back in rebate for six months worth of the property now being an IP. I contacted the depreciation company, they say I should have gotten a lot more, the accountant says the figure is right. I do not have receipts for many of the improvements made (I built it for the bare minimum price in a great area and it only included things the builder was required to include). The accountant said despite not having receipts I should claim everything. I ended up $300 better off I paid for the report. Should I find a new accountant? I am an average schmuck PAYG. Any advice greatly appreciated, thank you.
Hi, I am a first time reader of these forums. My query is, I moved from my 6 year old PPOR this year into a house which is half owned by me. (The bank)
My accountant submitted an amendment to my tax return after I had obtained a second depreciation schedule. The first company despite being nationally known, did not deliver three months after payment so I asked for my money back. The upshot is that I received $800 back in rebate for six months worth of the property now being an IP. I contacted the depreciation company, they say I should have gotten a lot more, the accountant says the figure is right. I do not have receipts for many of the improvements made (I built it for the bare minimum price in a great area and it only included things the builder was required to include). The accountant said despite not having receipts I should claim everything. I ended up $300 better off I paid for the report. Should I find a new accountant? I am an average schmuck PAYG. Any advice greatly appreciated, thank you.
If the accountant has claimed all the depreciation deductions as per the schedule provided then they have done the right thing. You need to check depreciation and capital allowances in the rental schedule and also the low value pool and these figures should reconcile back to the schedule. You can ask the accountant to show you that reconciliation to make sure they have claimed everything.
The depreciation schedule company will have no idea of your taxable income and the impact of the deductions to you so they are unqualified to make any comments on the tax effect of the deductions at all. First stop is your accountant.
The depreciation schedule company will have no idea of your taxable income and the impact of the deductions to you so they are unqualified to make any comments on the tax effect of the deductions at all. First stop is your accountant.
