From: Ian Parham
'Evening All
Did not wish to corrupt the thread down the page on this topic, so posted anew here.
My question is in relation to the purchase of an IP (my brother) after it has already been an IP for someone else (me) who has claimed full depreciation on chattels for 4 years.
Can the new owner/investor claim the full depreciable value of said chattels (new QS report) all over again, or only the remaining 12 months value of say the original 5 yr schedule from the previous owner?
Thanks in advance!
Kind regards...Ian
'Evening All
Did not wish to corrupt the thread down the page on this topic, so posted anew here.
My question is in relation to the purchase of an IP (my brother) after it has already been an IP for someone else (me) who has claimed full depreciation on chattels for 4 years.
Can the new owner/investor claim the full depreciable value of said chattels (new QS report) all over again, or only the remaining 12 months value of say the original 5 yr schedule from the previous owner?
Thanks in advance!
Kind regards...Ian
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