Couple of depreciation questions

Hey All,
I was just hoping to get some insight into a couple of depreciation questions I had. I know its always best to speak to an accountant but I always feel this is a good place to start.

So basically my brother and I purchased a 1950s brick home 2 years ago and both lived in the property for 1 year. During that time we renovated the bathroom, replaced the oven, put in an updated fireplace, blinds, additional linen closets and a split system. We never got a depreciation schedule but after 1 year my brother moved out and I begin paying him rent.

Now the rent is just below market value (I pay only half as I own the other half of the property), and really each Friday I just pay money into his account. There is no property manager or anything like that.

So my first question is. Can my brother claim depreciation on the things we added to the house when he was living there? If so what is the best way to go about doing this?

Secondly in about 1 years time I plan to complete a thorough renovation and then move out and rent out the property. I understand I wont be able to claim depreciation on the building but i was hoping to do so on things like new kitchen, laundry, windows.etc? Am i allowed to do this and secondly do I claim half and my brother claims half? Or are we best to set up some kind of trust and add the property into this as we plan on buying a few more as well?

Sorry if it sounds like I am all over the place with this one :confused:
 
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