Depreciation Schedule on older house

[MRivera]

Hi everyone,
I have 2 properties that are over 40 years old.
One of them is an ex-hosing trust house in poor internal condition (fittings), and apart from a new hot water system I don't think its worth it.
I rang BTM depreciation mob and he said yes its well worth it (of course, maybe for him).
The other is OK condition, but its very old 1940 house.


Is it worth at 650$ a schedule for these older properties?

 

[propertyVIC]

There are some depreciation firms which won't charge you if you don't get the equivalent of their fee back in depreciation in the first year. Afraid I can't remember the name, but a thorough google might yield it.

 

[Dean2012ad]

Hey,
I have an approx 40 year old house with nothing really new except some new bathroom fittings from a reno 2 years back and a 10 yo HWS and a ducted aircon. I was apprehesive about getting a depreciation schedule done. BMT had a gauruntee that if they couldn't get double the schedule fee on the dep claim they would refund your money.

I think I claimed approx $3000 this year with slowely reducing claims to be had over the coming years. As I have had the property since 2008, I've just made ammendments for the allowable last 2 years tax returns to claim depreciation.

Answer: Yes, but if you're still worried go with a company that has the money back gauruntee. The Depreciator is a recommendation.

 

[Jamie M]

I still haven't seen a depreciation schedule which didn't pay for itself within the first year or two.

I've got a 50 year old place that I was able to claim $2k on in the first year.

Cheers

Jamie

 

[MRivera]

Yes the mob I spoke to is BMT, I am convinced now thanks guys