Gardens/Landscaping

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From: Terry W


Hi

I have a question that I haven't seen addressed on the forum before.

From a taxation point of view, how are gardens/landscaping treated. I assume you can just claim the cost of a few individual plants, but what If you did a 'ground force' style garden ie a whole makeover costing thousands? Would you have to depreciate it? can you depreciate plants?? you would probably have to depreciate the 'hard bits' such as paving, retaining walls etc.

Thanks


Terry
 
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Gardens/Landscaping=Dale can you answer

Reply: 1
From: Marina .


On 5/20/02 10:28:00 PM, Terry W wrote:

I WENT THRU THE POSTS AND NOTICED TERRY'S QUESTION REMAINS UNANSWERED.
COULD DALE PERHAPS ANSWER THIS.
THANKS.

>Hi
>
>I have a question that I
>haven't seen addressed on the
>forum before.
>
>From a taxation point of view,
>how are gardens/landscaping
>treated. I assume you can just
>claim the cost of a few
>individual plants, but what If
>you did a 'ground force' style
>garden ie a whole makeover
>costing thousands? Would you
>have to depreciate it? can you
>depreciate plants?? you would
>probably have to depreciate
>the 'hard bits' such as
>paving, retaining walls etc.
>
>Thanks
>
>
>Terry
 
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Gardens/Landscaping=Dale can you answer

Reply: 1.1
From: Dale Gatherum-Goss


Hi

My apologies for not answering earlier, it's been a mad world . . .

Normal gardening such as lawn mowing and replacing a few plants are tax deductible.

However, a "ground force" style landscaping is not tax deductible. Some of the costs will be depreciated as Capital Works Deductions at 2.5% but this will be limited to things like Retaining Walls, paving, and fences.

The balance is a "black hole" cost to you that adds value to your home, is deducted from your eventual Capital Gains Tax calculation, but, does not provide you with an immediate tax deduction.


So, you might like to think twice or ask your landscaper to be more creative with the way that he/she prepares the quote and invoice.

Have fun

Dale
 
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Gardens/Landscaping=Dale can you answer

Reply: 1.1.1
From: Robert Forward


Dale

Another quick question here about gardens.

What if I installed plants that only had a lifespan of lets say 5 years. Can I write off the costs over these 5 years as per a QS report????

I'm sure I will be able to get a qualified botanist to produce a report for me with costs etc to keep the ATO happy....

Cheers,
Robert

Get your Property Inspection Reports @
http://www.CreativeFinance.com.au
 
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RE: Gardens/Landscaping=Dale can you answer

Reply: 1.1.1.1
From: Duncan M


I'm not Dale..

But it seems to me if those damn tenants would just water the plants, you
wouldn't have to REPLACE them in the first place.. And, Dale may correct me,
because you're replacing damaged plants they are immediately deductible?

Duncan.

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Subject: Gardens/Landscaping=Dale can you answer


From: "Robert Forward" <robert_forward@creativefinance.com.au>

Dale

Another quick question here about gardens.

What if I installed plants that only had a lifespan of lets say 5 years.
Can I write off the costs over these 5 years as per a QS report????

I'm sure I will be able to get a qualified botanist to produce a report for
me with costs etc to keep the ATO happy....

Cheers,
Robert

Get your Property Inspection Reports @
http://www.CreativeFinance.com.au




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RE: Gardens/Landscaping=Dale can you answer

Reply: 1.1.1.1.1
From: Dale Gatherum-Goss


G'day!

As I mentioned in my original post, the cost of a few plants here or there is tax deductible. The cost of landscaping is not.

So, a botanists report will not help and just a few dollars here or there will still get you those tax deductions.

Have fun

Dale
 
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