I'd like to get an idea of how much one might be able to claim in depreciation on a brand new Apartment. Is a QS necessary if it's brand new or is the purchase price (minus land value) taken to be the value of the apartment?
Obviously different things depreciate at different rates, so I was wondering if anyone has any practical figures they have calculated? Or perhaps even a rule of thumb (like a typical new house will yield a depreciation value of about 5% of purchase cost in the first year).
Let's say we're talking an apartment whose construction cost (ie. excluding land value) is $300K.
As you can imagine, has a substantial impact on how negative geared (if at all) a property ends up.
Obviously different things depreciate at different rates, so I was wondering if anyone has any practical figures they have calculated? Or perhaps even a rule of thumb (like a typical new house will yield a depreciation value of about 5% of purchase cost in the first year).
Let's say we're talking an apartment whose construction cost (ie. excluding land value) is $300K.
As you can imagine, has a substantial impact on how negative geared (if at all) a property ends up.