Depreciation schedules

[nakal]

I am a non-resident for tax purposes(don't pay tax on salary in Australia), so I cannot claim any losses against my salary, is there any point in getting a depreciation schedule done?.

If I decide to sell one of my IPs in a few years time, would the write off from the depreciation schedules make any difference with the amount of CGT I need to pay.

Basically what I am trying to find out is what are the advantages of getting a depreciation schedule done if I cannot use it to reduce my tax.

 

[Bobq]

Nakal,

Are you losing money from the IP? If it is positive cashflow, then you can reduce your tax by having a QS done - that is, you can reduce the tax payable on the IP income.

The valuation shouldn't affect CGT unless you have a clause recognising these assets in the sale - that can be used to reduce CGT if the buyer doesn't care!

I would say get professional advice - investing out of town is hard enough, but out of country you need really solid advice!

Bob