Depreciation for properties over 50 years old

[depreciator]

For example, you may get floor boards installed at mates-rates and therefore they use that figure and depreciate accordingly.

The ATO have an entirely reasonable expectation that you only claim recompense for money actually spent.

 

[landlubber]

The ATO also accepts, in the absence of any receipts, the estimation of the quantity surveyor as to a reasonable market value for the works. You don't have to have receipts. LL

 

[wombat777]

Not sure if people are aware, but when you purchase an old house even one that has no depreciable value left in the building, all the internals eg curtains, carpet etc are all reset to zero age again so these will be depreciable.

This occurs everytime the house is sold and a new owner comes along. So yes even in the case of a 100 year old house, the new owner/investor gets to do depreciation report and depreciate carpets, curtains etc despite condition of these.

The various online calculators available only allow you to go back to 1985. Can anyone give me indicative figures of the depreciation that would be available for a 3 bedroom house built over 50 years ago?

i.e. only depreciating the fixtures / fittings?

Assuming for a 50 year old house you do a cosmetic renovation - say $40k
- painting internal / external
- new kitchen
- new bathroom
- new blinds / curtains / light fittings

What would be an indicative set of figures for:
- scrapping ( I assume this is claimed in the year the renovation occurs? )
- Depreciation of the renovation in yr 1, yr 2, yr 3, yr 4, yr 5