Furniture on contract?

[Simon]

I am buying a fully furnished IP atm.

Do I list all the furnishings on the contract?

I know I should to ensure that they are there on settlement.

Are there any issues with CGT and depreciation by doing so?

I will get them val'd by deppro after the reno.

Love to hear some thoughts.

 

[Jas]

This is what my mum told me when I had kids.

If you think your kid is sick, take them to the doctor. Would you prefer to look a fool and have a healthy kid, or attend a funeral?

I think my mum's words of wisdom are applicable here.

There is nothing with CGT. you are paying for the funirutre in the price of the house. you will depecate it over the years.

Jas

 

[Simon]

Jas,


I don't follow your analogy...can you dumb it down a bit.

Thanks,

 

[bundy1964]

Hi Simon

I think Jas means play it safe and have it listed on the contract.

bundy

 

[Simon]

Thanks Bundy.