Depreciation Estimator on Depreciator website

[traveller]

Hi All,

Has anyone used the Depreciation Estimator given on the www.depreciator.com.au.

It costs $45 only and might result in good savings over using a depreciation specialist. It goes through all the rooms one by one and asks the relevant questions...Has anyone used it and any comments???

Thanks-

 

[Pushka]

I have used it, last month but only as a guide when doing my ATO Income tax estimates to get a waiver on the tax rates taken out by my employer (who happens to be me!). I wouldnt use it to do my full taxation return (and it also has this in its disclaimer) as there are several items it doesnt include. I thought it was good value for its purpose, and was better than my guesses!

 

[depreciator]

It's not a substitute for a QS inspection. It's something that people can use if they want to see what depreciation a particular property may yield - usually when they're thinking about buying something.
The process takes about 15 minutes and we refund the cost if that client proceeds to commission a full Schedule on the property.
A client of ours offered to build it - it would have cost a fortune and we wouldn't have done it otherwise.
We made it fairly involved because we found that was required to get the accuracy - we back tested it against around 200 completed jobs. I've seen a couple of free ones and I didn't find them to be terribly accurate.
Scott

 

[BAZARI]

This site was on the news last night. Anyone catch the tv show?

 

[geoffw]

I didn't see it, but I saw the website article.

 

[Peter 14.7]

Hi All

I use it extensively and it is a key tool in my selection of IPS.

Only last week I shortlisted 5 IPS to buy personally. The 2 IPs I got were decided solely on the depreciation advice which takes a day at most to turn around. It is easy to use for the layperson and easy to read.

I use it as I find it is a great tool to negotiate with. Shows to agent (and hence vendor) cold hard numbers which gives Agent a reason to move the vendor down to a price you can agree with.

Worth the invesment every time. Never buy an IP without it. About to get some more on another purchase I hope to secure this week.

Regards, Peter 14.7

Disclaimer: Im the last 12 months since moving I have personally done some full depreciation schedules for Depreciator but the number is minimal as we look after Western Country VIC. Fees paid represents less than 1% of our firms income. So whilst I have a vested interest now, I used Depreciator before I started this relationship and would use them after it ends.