Scenario is this: IP purchased and granny flat being constructed after obtaining approval from council. both dwellings will be completely separate, i.e. own bins, meters, entrances etc.... only the drive way is common, like a battleaxe would be.
question 1 is can I claim deductions for the granny flat before it is rented out? On the ATO site it says “You cannot claim a deduction until the construction is completed.”
What is the definition of completion date? once I advertise the property as available? Or are both dwellings viewed as one and the same (house and granny flat) and seeing as the house is rented out then I can claim straight away.
also, would i get a 1 deprecation report for both dwellings or 1 each?
Would be great to hear from people who have a dual occupancy property, or if you have any experience with this scenario.
Thanks
question 1 is can I claim deductions for the granny flat before it is rented out? On the ATO site it says “You cannot claim a deduction until the construction is completed.”
What is the definition of completion date? once I advertise the property as available? Or are both dwellings viewed as one and the same (house and granny flat) and seeing as the house is rented out then I can claim straight away.
also, would i get a 1 deprecation report for both dwellings or 1 each?
Would be great to hear from people who have a dual occupancy property, or if you have any experience with this scenario.
Thanks