Originally posted by Apocalypse
So if you sell an IP, the "carpet and airconditioner" are considered sold for 0 dollars effectively, unless otherwise stated in the contract?
So the IP can be sold to another investor, who subsequently gets a QS in to determine the "carpet and airconditioner" have a sizeable depreciable value yet, which the investor then starts legitimately claiming...
Extending this, why not, when buying an investment property from a vendor for whom it is a PPOR, add to the contract some "values" for the carpets and airconditoner? The vendor should not care as it wont make any difference to them, but the investor can demonstrate a value which can thus be depreciated. As long as the "values" weren't too outlandish, this appears quite valid...
