For properties with high deprecation potential, wouldn't it be worth getting 2-3?

Discussion in 'Accounting and Tax' started by jerrybee, 3rd Jun, 2015.

  1. jerrybee

    jerrybee Member

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    Considering they only cost like $300-500-ish, if you had a property that you expected to get a lot of deprecation from, wouldn't it make sense to always get like 2 or 3 of them and just pick the best one? I've just seen them vary so much between companies, and even individuals within a company that do them (when comparing deprecation reports from very similar properties), it seems like it would make your money back almost instantly. What are your thoughts on this?
     
  2. oc1

    oc1 Developer

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    Wouldn't you rather spend your mental energy on things that will make you money? Seems like small minded thinking to me. Get one done give it to your accountant and move on.
     
  3. jerrybee

    jerrybee Member

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    Yup you're right. I just read someone suggesting this in another thread and wondered if there was any merit to it but you're right.
     
  4. BMT Tax Depreciation

    BMT Tax Depreciation Member

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    Some people do actually do this but I doubt they'd do it for every property, but instead are just testing the water once to assess the results and see what their preference is. However, dare I suggest that if your price range is $300-$500 then you won't come close to finding "the best one"?
     
  5. Koste

    Koste Member

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    Hi,

    A good Tax Depreciation provider will maximize your entitlements whilst meeting ATO rules.

    Happy to help
     
  6. Paul@PFI

    Paul@PFI Tax, SMSF & Planning

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    Yes. However the differences wont be materially different. Even if one had assets $10K higher may just add deduction of $250 a year. And ultimately increase the CGT payable so that 50% of the difference is a minor benefit.