Depreciation Report

[z611143]

Is it worth getting one done?

Im not a massive income earner, currently only around 40-45k is taxable income for me.

Also i think the place i just bought was built in the 1970's so im not sure if it would be too old for a dep report. Will have to ask deppro.

Thanks
Z6

 

[pinkboy]

Is it worth getting one done?

Im not a massive income earner, currently only around 40-45k is taxable income for me.

Also i think the place i just bought was built in the 1970's so im not sure if it would be too old for a dep report. Will have to ask deppro.

Thanks
Z6

Do a search!

This question is asked weekly!

pinkboy

 

[depreciator]

If it's a modest property, with no renos, and a recent purchase, the depreciation in the first full year could be around $2,000. (And less in subsequent years.) email a QS some photos and they should be able to give you a more accurate ballpark.
It's up to you and your accountant to decide if that is worth grabbing.
Scott

 

[chilliblue]

Just purchased a home built in 1960 in fairly original condition and BMT undertook one for us.

$3K plus depreciation for the first year. Good $700 spend.

Most companies will not charge if they do not find at least double the first year amount.

 

[Jamie M]

Yes it's worth it.

Cheers

Jamie

 

[J_aco]

Hi OP: as pinkboy mentioned, do a quick search and you'll see plenty of threads and posts. (have a read on fullylucky's one too - it's gold )

You'll find that the consensus is:
- it's certainly worthwhile
- the cost of getting the depreciation schedule will more than pay for itself (in terms of the tax deduction you get)

The 2 most recommended companies are Depreciator and BMT (plenty of other great ones I'm sure; they're just the ones mentioned more often on SS)