Depreciation on Older Properties

Suppose you have an old weatherboard house, Circa 1960's, and has undergone a fairly reasonable renovation (perhaps ~5yrs ago), is there a possibility to claim depreciation. Would it be wise for one to order a quantity surveyors report for tax purposes?
 
Certainly worth having a chat with someone. If you have a bunch of photos, any QS will be able to give you a ballpark on the depreciation claimable.
There will be depreciation in the reno and possibly in some of the other Assets.
Scott
 
Rule of thumb for me mate- every house we buy which thus far have all been sub 1980s builds, whether we have renovated or not we get a Dep Schedule done for the house. If we renovate at a later point which we have done along the journey. Have made a call and sent an email outlining the works done and money spent to BMT which is who we use and the QS amend the report for an added $100.

Every time the return far outweighs the cost
 
Certainly worth having a chat with someone. If you have a bunch of photos, any QS will be able to give you a ballpark on the depreciation claimable.
There will be depreciation in the reno and possibly in some of the other Assets.
Scott

Scott's hit the nail on the head.

Have quite a few older 60's-70's properties with renos which are 1-7 years old, reasonable depreciation on each. Well worth looking at getting a DS.
 
While on the subject of depreciation,
I bought an older house in 2011 and never got a depreciation report done, is it possible to start doing that now and claim the past few years? I read somewhere you can up to 2 years but not too sure how that works. Would i lodge that in the coming tax lodegment?
 
Paul, you can claim 'lost' depreciation (and any other deductions you failed to claim) but it means amending the tax returns for previous years. Sometimes it's not worth doing.

Scott
 
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