Depreciation schedule
- Thread starter twenty5
- Start date
I've asked. The answer was no. So I got my own done. No biggy.
Problem with an existing Schedule is that all the Assets will have been written-down and may be worth nothing on the Schedule.
But the Schedule may contain the building cost, which will be useful. That is the trickiest part of a dep schedule and the thing that requires expertise to estimate. If you have the build cost, that would reduce the cost of getting a Schedule done.
But the Schedule may contain the building cost, which will be useful. That is the trickiest part of a dep schedule and the thing that requires expertise to estimate. If you have the build cost, that would reduce the cost of getting a Schedule done.
I have found very few vendors provide it - If they are an investor its a bit more probable esp if its an apartment etc. One of our staff just bought a new build and the developer provided one only because she asked. No cost ! And it wasnt a crap builders version. A real schedule by a well known provider.
I'm wary of old schedules and have our preferred quantity surveyor review the property and former schedule. Often an initial review using photo's etc. Sometimes there are recent works or plant not on the schedule which can be picked up. eg: Kitchen reno with newer appliance etc or sinking fund improvements. Years back a client schedule looked OK but QS found lifts had all been recently replaced and fire stairs & sprinklers etc enhanced...Worth the effort.
I'm wary of old schedules and have our preferred quantity surveyor review the property and former schedule. Often an initial review using photo's etc. Sometimes there are recent works or plant not on the schedule which can be picked up. eg: Kitchen reno with newer appliance etc or sinking fund improvements. Years back a client schedule looked OK but QS found lifts had all been recently replaced and fire stairs & sprinklers etc enhanced...Worth the effort.
